HI HB949

Allows partners or members that are partnerships or LLCs to transfer, sell, or assign all or a portion of allocated low-income housing tax credits to any person, regardless of whether that person owns an interest in the qualified low-income building

Requires transferors to notify the Department of Taxation at least 30 days before the transferee claims the tax credits, with transfers completed before filing a return claiming the credit

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

Applies to taxable years beginning after December 31, 2025

Effective date set as July 1, 3000 (placeholder date indicating the bill requires further action)