STAND. COM. REP. NO. 1415-24

Honolulu, Hawaii

, 2024

RE: H.C.R. No. 202

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-Second State Legislature

Regular Session of 2024

State of Hawaii

Sir:

Your Committee on Housing, to which was referred H.C.R. No. 202 entitled:

"HOUSE CONCURRENT RESOLUTION URGING THE UNITED STATES CONGRESS TO SUPPORT THE WORKFORCE HOUSING TAX CREDIT ACT,"

begs leave to report as follows:

The purpose of this measure is to urge the United States Congress to support the Workforce Housing Tax Credit Act.

Your Committee received testimony in support of this measure from the Pacific Housing Assistance Corporation.

Your Committee finds that as the price of housing continues to rise, more and more middle-class Americans find themselves opting for suitable rental housing rather than homeownership. Your Committee further finds that the Workforce Housing Tax Credit Act, which was first introduced in the United States Congress on December 7, 2023, aims to increase the supply of affordable housing for middle-income families who earn too much to qualify for low-income affordable housing. Your Committee believes that the passage of the federal Workforce Housing Tax Credit Act is critically important to support the creation of new housing for middle-income families.

As affirmed by the record of votes of the members of your Committee on Housing that is attached to this report, your Committee concurs with the intent and purpose of H.C.R. No. 202 and recommends that it be referred to your Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Housing,

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LUKE A. EVSLIN, Chair