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 Act 31 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.
Summary
SR60 is a Senate resolution expressing the Legislature’s intent that housing projects approved by the Hawaii Housing Finance and Development Corporation before July 1, 2031, should remain eligible for housing credits under Act 31 even after Act 31 is repealed. The resolution is aimed at reducing uncertainty for developers and public agencies by clarifying that approval before the repeal date preserves eligibility for the credit program.
The resolution also asks HHFDC and each county to include specific information in their project approvals for qualifying projects under section 201H-38, Hawaii Revised Statutes. That information includes a statement about the developer’s right to receive housing credits, the number of units eligible to earn credits, and the number of credits available to be earned. The measure is framed as a clarification and administrative guidance document rather than a change to the underlying statute.
Impact
SR60 does not itself amend the Hawaii Revised Statutes, but it signals legislative intent that may guide HHFDC and county interpretation of Act 31’s housing credit provisions. Its practical effect is to support continued eligibility for housing credits for projects approved before July 1, 2031, and to encourage more detailed approval records from HHFDC and counties for projects using section 201H-38 and qualifying under Act 31. The resolution affects housing developers, HHFDC, and county permitting and approval authorities by clarifying expectations around credit eligibility and documentation.
Sentiment
The overall sentiment appears supportive and pro-housing. The resolution is grounded in concern over Hawaii’s severe housing shortage and rising financing costs, and the committee vote shows unanimous support in the Senate Housing Committee, which passed the measure 4-0 with amendments. The discussion reflected a desire to reduce uncertainty and keep housing production moving forward.
Contention
The main issue addressed by SR60 is uncertainty about whether projects approved before July 1, 2031, would still qualify for housing credits after Act 31 is repealed. The resolution seeks to resolve that ambiguity in favor of developers and project sponsors, while also asking HHFDC and counties to document credit eligibility more explicitly. No major opposition is reflected in the available record, but the need for clarification suggests concern among stakeholders about how counties and HHFDC will administer the program after the repeal date.
Same As
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 Act 31 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.