STAND. COM. REP. NO. 706-16
Honolulu, Hawaii
, 2016
RE: H.B. No. 2744
H.D. 1
Honorable Joseph M. Souki
Speaker, House of Representatives
Twenty-Eighth State Legislature
Regular Session of 2016
State of Hawaii
Sir:
Your Committee on Finance, to which was referred H.B. No. 2744, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO HOUSING,"
begs leave to report as follows:
(1) Increases the aggregate state housing credit dollar amount available for award annually;
(2) Bases the amount of the tax credit on whether or not a building is financed by tax-exempt bonds;
(3) Increases funding for affordable rental housing development by making the state low-income housing tax credit more valuable; and
(4) Increases the value of the state low-income housing tax credits by shortening the term over which the credits are taken to five years.
As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 2744, H.D. 1, and recommends that it pass Third Reading.
Respectfully submitted on behalf of the members of the Committee on Finance,
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____________________________ SYLVIA LUKE, Chair |
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