STAND. COM. REP. NO. 1827

Honolulu, Hawaii

, 2025

RE: H.C.R. No. 78

Honorable Nadine K. Nakamura

Speaker, House of Representatives

Thirty-Third State Legislature

Regular Session of 2025

State of Hawaii

Madame:

Your Committee on Finance, to which was referred H.C.R. No. 78 entitled:

"HOUSE CONCURRENT RESOLUTION DECLARING THE INTENT THAT PROJECTS WITH HOUSING UNITS THAT QUALIFY FOR HOUSING CREDITS UNDER ACT 31, SESSION LAWS OF HAWAII 2024, ARE STILL ELIGIBLE TO RECEIVE HOUSING CREDITS AFTER THE REPEAL OF THAT ACT IF THE HOUSING PROJECTS WERE APPROVED BY THE HAWAII HOUSING FINANCE AND DEVELOPMENT CORPORATION BEFORE JULY 1, 2031, AND REQUESTING THE CORPORATION AND EACH COUNTY TO INCLUDE CERTAIN INFORMATION WHEN APPROVING HOUSING PROJECTS FOR HOUSING CREDITS,"

begs leave to report as follows:

The purpose of this measure is to declare the intent that projects with housing units that qualify for housing credits under Act 31, Session Laws of Hawaii 2024, are still eligible to receive housing credits after the repeal of that Act if the housing projects were approved by the Hawaii Housing Finance and Development Corporation before July 1, 2031, and requesting the Corporation and each county to include certain information when approving housing projects for housing credits.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee concurs with the intent and purpose of H.C.R. No. 78 and recommends its adoption.

Respectfully submitted on behalf of the members of the Committee on Finance,

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KYLE T. YAMASHITA, Chair