HI HB1920

Extends the sunset date of Hawaii's low-income housing tax credit program from December 31, 2027 to December 31, 2032

Allows partnerships and limited liability companies allocated low-income housing tax credits (issued after July 1, 2026) to transfer, sell, or assign all or a portion of the credits to any taxpayer, regardless of ownership interest in the qualified building

Requires transferors of tax credits to notify the Department of Taxation within 20 days of the first month following the end of the taxable year in which the credit may be claimed

Permits low-income housing tax credits to be claimed whether or not the taxpayer is eligible for the federal low-income housing tax credit under IRC Section 42