THE SENATE	S.B. NO.	3025
TWENTY-SIXTH LEGISLATURE, 2012		S.D. 2
STATE OF HAWAII		H.D. 1

A BILL FOR AN ACT

RELATING TO AFFORDABLE HOUSING CREDITS.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

     SECTION 1.  Section 46-15.1, Hawaii Revised Statutes, is amended by amending subsection (b) to read as follows:

     "(b)  Each county shall issue affordable housing credits to the department of Hawaiian home lands with respect to existing and future Hawaiian home lands projects upon a request for such credits by the department of Hawaiian home lands.  [The credits shall be transferable and shall be issued on a one-unit for one-unit basis.]  Credits may be issued for each single-family residence, multi-family unit, other residential unit, or if allowed under the county's affordable housing programs, vacant lot, developed by the department of Hawaiian home lands as follows:

(1) All units or lots developed by the department shall be treated as for-sale units or lots; provided that the land shall be leased in perpetuity;

(2) All units or lots developed by the department are deemed to be sold to purchasers who would qualify for a unit or lot for credit under the county's affordable housing programs;

(3) The department shall provide verification of a purchaser's actual income, and the county shall issue to the department the number of credits corresponding to units or lots sold to purchasers with the specified qualifying income level under the county's respective affordable housing program; and

(4) The chair of the Hawaiian homes commission may certify the income level of a purchaser through written affidavit without reference to the identity or other personal information of the individual purchaser, which shall constitute verification of income for purposes of this section.

Housing credits under this subsection shall apply only to department of Hawaiian home lands households earning one hundred twenty per cent or lower of the respective county median income.

The credits may be applied county-wide within the same county in which the credits were earned to satisfy affordable housing obligations imposed by the county on [market priced] affordable residential and non-residential developments.  County-wide or project-specific requirements for the location of affordable housing units; rental or for sale multi-family or single-family use or type; construction time; or other county requirements for affordable housing units shall not impair, restrict, or condition the county's obligation to apply the credits in full satisfaction of all county requirements.

For purposes of this section, "affordable housing obligation" means the requirement imposed by a county to develop vacant lots, single-family residences, multi-family residences, or any other type of residence for sale or rent to individuals within a specified income range."

     SECTION 2.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 3.  This Act shall take effect on July 1, 2050, and shall be repealed on June 30, 2015.

Report Title:

Affordable Housing Credits; Department of Hawaiian Home Lands; Counties

Description:

Authorizes affordable housing credits to be issued for each single-family residence, multi-family unit, other residential unit, or if allowed under the county's affordable housing programs, vacant lot, developed by the Department of Hawaiian Home Lands under specified conditions and requirements.  Effective July 1, 2050.  Repealed on June 30, 2015.  (SB3025 HD1)

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.