RELATING TO HOUSING.

Appropriates funds for homeless and transitional housing programs. Appropriates funds to repair vacant public housing units. Adjusts allocation of conveyance tax revenues. Allows state-owned parcels to be leased for the development of self-help housing. Amends the state low-income housing tax credit to be used for construction and rehabilitation of existing affordable housing units.

RELATING TO LEASEHOLD CONVERSION.

Exempts from taxation 100% of capital gains realized during taxable years 2007 through 2011 from the sale of leased fee interest in residential house lot or multi-family residential leasehold property to lessee, AOAO, or cooperative.

RELATING TO HOMELESS VETERANS.

Authorizes the issuance of general obligation bonds to provide shelter to homeless veterans.

RELATING TO SPECIAL PURPOSE REVENUE BONDS.

Assists not-for-profit private organizations in the development of low and moderate income housing by authorizing the State to issue special purpose revenue bonds for their benefit. Contingent upon ratification of constitutional amendment authorizing the same.

PROPOSING AMENDMENTS TO THE HAWAII STATE CONSTITUTION RELATING TO SPECIAL PURPOSE REVENUE BONDS.

Proposes constitutional amendment to authorize the State to issue special purpose revenue bonds to assist not-for-profit private organizations in the development of low and moderate income housing.

RELATING TO AFFORDABLE HOUSING TAX CREDIT.

Provides a tax credit to encourage the construction of affordable housing in the State.

RELATING TO RENTAL HOUSING.

Increases the income tax credit for low-income household renters with an adjusted gross income of less than $30,000, from $50 to $100, multiplied by the number of qualified exemptions. Also makes the tax credit available to household renters with an adjusted gross income between $30,000 and $50,000, but for a different amount: $75 multiplied by the number of qualified exemptions.

RELATING TO LAND ACQUISITION.

Appropriates funds to acquire the property currently known as Kukui Gardens from Kukui Gardens Corp. Authorizes eminent domain proceedings should the acquisition be unsuccessful.

RELATING TO AFFORDABLE HOUSING.

Requires the Department of Accounting and General Services (DAGS) and the Hawaii Housing Finance and Development Administration (HHFDA) to plan for public/private partnerships to construct affordable housing units on or adjacent to future state facilities. Requires DAGS and HHFDA to enter into public/private partnerships to build affordable housing units on state property in Iwilei.

RELATING TO AFFORDABLE HOUSING.

Appropriates $2,500,000 for up to three grants-in-aid for developmental planning of specific housing projects in urban areas that reserve at least 50 percent of housing units for households earning 80% or less of the median family income.

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Rep. Michael P. Kahikina