SB944 • 2026

RELATING TO THE LOW-INCOME HOUSING TAX CREDIT.

Housing Taxes

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor: HASHIMOTO
Last action: 2026-04-02
Official status: Received notice of the discharge of all House Conferees (Hse. Com. No. 457).
Effective date: Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

RELATING TO THE LOW-INCOME HOUSING TAX CREDIT.

What This Bill Does

RELATING TO THE LOW-INCOME HOUSING TAX CREDIT.
Low-Income Housing Tax Credit; Extension; Partners; Limited Liability Companies Clarifies that a partner or member that is a partnership or limited liability company that has been allocated a low-income housing tax credit may either further allocate the credit or transfer, sell, or assign all or a portion of the credit to any taxpayer.
Extends the sunset date of Act 129, SLH 2016, relating to the low-income housing tax credit, until 12/31/2032.
Effective 7/1/3000.

Limits and Unknowns

This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

HD1

Hawaii published version HD1

Plain English: SB944 HD1 THE SENATE S.B.

SB944 HD1 THE SENATE S.B.
NO.
944 THIRTY-THIRD LEGISLATURE, 2025 S.D.
2 STATE OF HAWAII H.D.

SD1

Hawaii published version SD1

Plain English: SB944 SD1 THE SENATE S.B.

SB944 SD1 THE SENATE S.B.
NO.
944 THIRTY-THIRD LEGISLATURE, 2025 S.D.
1 STATE OF HAWAII A BILL FOR AN ACT RELATING TO THE LOW-INCOME HOUSING TAX CREDIT .

SD2

Hawaii published version SD2

Plain English: SB944 SD2 THE SENATE S.B.

SB944 SD2 THE SENATE S.B.
NO.
944 THIRTY-THIRD LEGISLATURE, 2025 S.D.
2 STATE OF HAWAII A BILL FOR AN ACT RELATING TO THE LOW-INCOME HOUSING TAX CREDIT .

Bill History

2026-04-02 S
Received notice of the discharge of all House Conferees (Hse. Com. No. 457).
2026-04-01 H
House Conferee(s) discharged.
2026-03-20 H
Received notice of all Senate conferees being discharged (Sen. Com. No. 409).
2026-03-20 S
Senate Conferee(s) discharged.
2025-12-08 D
Carried over to 2026 Regular Session.
2025-04-25 S
Conference committee meeting to reconvene on 04-25-25 4:30 PM; Conference Room 225.
2025-04-25 S
Conference committee meeting to reconvene on 04-25-25 3:30 PM; Conference Room 016.
2025-04-24 S
Conference committee meeting to reconvene on 04-25-25 10:30AM; Conference Room 224.
2025-04-23 S
Conference committee meeting to reconvene on 04-24-25 10:30AM; Conference Room 224.
2025-04-22 H
Bill scheduled for Conference Committee Meeting on Wednesday, 04-23-25 10:32AM in conference room 224.
2025-04-22 S
Received notice of appointment of House conferees (Hse. Com. No. 795).
2025-04-21 H
House Conferees Appointed: Evslin, Miyake Co-Chairs; Pierick.
2025-04-16 H
Received notice of Senate conferees (Sen. Com. No. 809).
2025-04-16 S
Senate Conferees Appointed: Chang Chair; Hashimoto Co-Chair; Kanuha, Fevella.
2025-04-04 H
Received notice of disagreement (Sen. Com. No. 590).
2025-04-04 S
Senate disagrees with House amendments.
2025-04-04 S
Received from House (Hse. Com. No. 478).
2025-04-03 H
Passed Third Reading with Representative(s) Iwamoto voting aye with reservations; Representative(s) Amato, Muraoka voting no (2) and Representative(s) Cochran, Woodson excused (2). Transmitted to Senate.
2025-04-03 H
Reported from FIN (Stand. Com. Rep. No. 1911), recommending passage on Third Reading.
2025-03-28 H
The committee on FIN recommend that the measure be PASSED, UNAMENDED. The votes were as follows: 14 Ayes: Representative(s) Yamashita, Takenouchi, Grandinetti, Holt, Keohokapu-Lee Loy, Kitagawa, Kusch, Lamosao, Lee, M., Miyake, Morikawa, Templo, Alcos, Reyes Oda; Ayes with reservations: none; 0 Noes: none; and 2 Excused: Representative(s) Hussey, Ward.
2025-03-27 H
Bill scheduled for decision making on Friday, 03-28-25 1:59PM in conference room 308 VIA VIDEOCONFERENCE.
2025-03-27 H
The committee(s) on FIN recommend(s) that the measure be deferred until 03-28-25.
2025-03-24 H
Bill scheduled to be heard by FIN on Thursday, 03-27-25 3:30PM in House conference room 308 VIA VIDEOCONFERENCE.
2025-03-18 H
Passed Second Reading as amended in HD 1 and referred to the committee(s) on FIN with none voting aye with reservations; Representative(s) Amato voting no (1) and Representative(s) Cochran, Ward excused (2).
2025-03-18 H
Reported from HSG (Stand. Com. Rep. No. 1357) as amended in HD 1, recommending passage on Second Reading and referral to FIN.
2025-03-14 H
The committee on HSG recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 7 Ayes: Representative(s) Evslin, Miyake, Grandinetti, Kila, Kitagawa, La Chica, Muraoka; Ayes with reservations: none; 0 Noes: none; and 2 Excused: Representative(s) Cochran, Pierick.
2025-03-11 H
Bill scheduled to be heard by HSG on Friday, 03-14-25 9:00AM in House conference room 430 VIA VIDEOCONFERENCE.
2025-03-06 H
Referred to HSG, FIN, referral sheet 19
2025-03-06 H
Pass First Reading
2025-03-04 H
Received from Senate (Sen. Com. No. 224) in amended form (SD 2).
2025-03-04 S
Report adopted; Passed Third Reading, as amended (SD 2). Ayes, 25; Aye(s) with reservations: none . Noes, 0 (none). Excused, 0 (none). Transmitted to House.
2025-02-28 S
48 Hrs. Notice 03-04-25.
2025-02-28 S
Reported from WAM (Stand. Com. Rep. No. 1000) with recommendation of passage on Third Reading, as amended (SD 2).
2025-02-27 S
The committee(s) on WAM recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in WAM were as follows: 13 Aye(s): Senator(s) Dela Cruz, Moriwaki, Aquino, DeCoite, Elefante, Hashimoto, Inouye, Kanuha, Kidani, Kim, Lee, C., Wakai, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none.
2025-02-26 S
The committee(s) on WAM deferred the measure until 02-27-25 10:31AM; Conference Room 211 & Videoconference.
2025-02-24 S
The committee(s) on WAM will hold a public decision making on 02-26-25 10:04AM; Conference Room 211 & Videoconference.
2025-02-14 S
Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM.
2025-02-14 S
Reported from HOU (Stand. Com. Rep. No. 564) with recommendation of passage on Second Reading, as amended (SD 1) and referral to WAM.
2025-02-04 S
The committee(s) on HOU recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in HOU were as follows: 4 Aye(s): Senator(s) Chang, Hashimoto, Kanuha, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 1 Excused: Senator(s) Aquino.
2025-01-31 S
The committee(s) on HOU has scheduled a public hearing on 02-04-25 1:00PM; Conference Room 225 & Videoconference.
2025-01-23 S
Referred to HOU, WAM.
2025-01-21 S
Passed First Reading.
2025-01-17 S
Introduced.

Official Summary Text

RELATING TO THE LOW-INCOME HOUSING TAX CREDIT.
Low-Income Housing Tax Credit; Extension; Partners; Limited Liability Companies
Clarifies that a partner or member that is a partnership or limited liability company that has been allocated a low-income housing tax credit may either further allocate the credit or transfer, sell, or assign all or a portion of the credit to any taxpayer. Extends the sunset date of Act 129, SLH 2016, relating to the low-income housing tax credit, until 12/31/2032. Effective 7/1/3000. (HD1)

Current Bill Text

Read the full stored bill text

SB944

THE SENATE

S.B. NO.

944

THIRTY-THIRD LEGISLATURE, 2025

STATE OF HAWAII

A BILL FOR AN ACT

relating
to the low-income housing tax credit
.

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

����
SECTION
1
.
�
Section 235-110.8, Hawaii Revised Statutes,
is amended by amending subsection (b) to read as follows:

����
"
(b)
�
Each taxpayer subject to the tax imposed by
this chapter, who has filed a net income tax return for a taxable year may
claim a low-income housing tax credit against the taxpayer's net income tax
liability.
�
The amount of the credit
shall be deductible from the taxpayer's net income tax liability, if any,
imposed by this chapter for the taxable year in which the credit is properly
claimed on a timely basis.
�
A credit
under this section may be allocated by a partnership or limited liability
company in any manner agreed to by the partners or members regardless of
whether the individual or entity to receive the credit is deemed to be a
partner or member for federal income tax purposes, so long as the individual or
entity is deemed to be a partner or member pursuant to applicable state law.
�
A partner or member that is a partnership
or limited liability company that has been allocated a credit may either
further allocate the credit or transfer, sell, or assign all or a portion of
the credit to any taxpayer, regardless of whether the taxpayer owns a direct or
indirect interest in the qualified low-income building; provided that, for any
tax year in which the credit is transferred, sold, or assigned pursuant to this
subsection, the transferor shall notify the department of taxation of the
transfer, sale, or assignment in the manner prescribed by the department of
taxation.
�
The credit may be claimed
whether or not the taxpayer is eligible to be allocated a federal low-income
housing tax credit pursuant to section 42 of the Internal Revenue Code."

����
SECTION 2.
�

Act 129, Session Laws of Hawaii 2016, as amended by section 2 of Act
226, Session Laws of Hawaii 2021, is amended by amending section 4 to read as
follows:

����
"SECTION 4.
�
This Act, upon its approval, shall take
effect on January 1, 2017, and shall apply to qualified low-income buildings
awarded credits after December 31, 2016; provided that this Act shall be
repealed on December 31, [
2027,
]
2032,
and section 235-110.8,
Hawaii Revised Statutes, shall be reenacted in the form in which it read on the
day prior to the effective date of this Act."

����
SECTION 3.
�

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

����
SECTION 4.
�

This Act shall take effect upon its approval.

INTRODUCED BY:

_____________________________

Report Title:

LIHTC; Partnership;
Limited Liability Company; Allocation; Transfer, Sale, or Assignment; Direct or
Indirect Interest; Sunset; Extension

Description:

Authorizes
a partner or member in a partnership or limited liability company that has been
allocated a low-income housing tax credit to further allocate the credit or
transfer, sell, or assign up to one hundred per cent of the tax credit, under
certain conditions.
�
Extends the sunset
date for certain provisions of the Low-Income Housing Tax Credit for low-income
buildings.

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