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Hawaii Legislation Would Establish Priority for Awarding LIHTCs

Wednesday, February 14, 2024 - 2:05PM

Legislation in the Hawaii House of Representatives would require that the state’s qualified allocation plan (QAP) for awarding low-income housing tax credits (LIHTCs) give priority to specific types of properties. H.B. 1763 would require the Hawaii Housing Finance and Development Corporation to prioritize for allocating LIHTCs properties on state- or county-owned land; properties required to be conveyed to the state our county at a definite time; properties owned by organizations obliged to use all financial surplus generated by the property to build, manage or rehabilitate housing; projects with a perpetual affordability commitment; and properties built by developers who demonstrate a history of early loan repayment or who request shorter repayment terms.

The Novogradac Introduction to Low-Income Housing Tax Credits booklet provides a brief, substantive look into the background and structure of the LIHTC.

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