HI SB944

Allows partnerships and limited liability companies that receive allocated low-income housing tax credits to further allocate, transfer, sell, or assign all or a portion of the credit to any taxpayer, regardless of ownership interest in the qualified low-income building

Requires transferors to notify the Department of Taxation of any credit transfer, sale, or assignment by the twentieth day of the first month following the end of the taxable year

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, 2024

Effective date set as July 1, 3000 (placeholder date indicating the bill requires further amendment before taking effect)