Hawaii Senate Bill 3097 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on January 27 2016 - 25% progression, died in committee
Action: 2016-01-29 - Referred to HOU, WAM.
Pending: Senate Housing Committee
Text: Latest bill text (Introduced) [HTML]

Amends provisions relating to low income housing income tax credit. Removes eligibility for taxpayers owning a low income building awarded under the American Recovery and Reinvestment Act of 2009. Allows owners of buildings not to be financed with tax-exempt bonds to claim fifty per cent of the applicable percentage of the qualified basis of each building located in Hawaii. Allows owners of buildings financed with tax-exempt bonds to claim one hundred per cent of the applicable percentage of the qualified basis of each building in Hawaii. Raises the state aggregate housing credit dollar amount from $1.25 to $1.75 multiplied by the state population in the calendar year.

Low-income Housing Tax Credit; Tax Credits or Refunds

Sen. Brickwood Galuteria [D]

Sen. Breene Harimoto [D]

Date	Chamber	Action
2016-01-29	Senate	Referred to HOU, WAM.
2016-01-29	Senate	Passed First Reading.
2016-01-27	Senate	Introduced.

Type	Source
Summary	http://www.capitol.hawaii.gov/measure_indiv.aspx?billtype=SB&billnumber=3097&year=2016
Text	http://www.capitol.hawaii.gov/session2016/bills/SB3097_.HTM