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Hawaii Extends State LIHTC Through 2027
Hawaii Gov. David Ige signed legislation July 6 extending the state’s low-income housing tax credit (LIHTC) through Dec. 31, 2027. H.B. 80 also clarifies when and how taxpayer partners may claim the LIHTC on state taxes, regardless of whether the partner is deemed to be a partner for federal income tax purposes. The legislation is applicable after Dec. 31, 2020, and requires an IRS Form 8609 to claim the credit.
The Novogradac Low-Income Housing Tax Credit Handbook is an essential resource for affordable housing and includes information on the interaction between federal and state LIHTC incentives.