CONFERENCE COMMITTEE REP. NO. 124

Honolulu, Hawaii

, 2021

RE: H.B. No. 80

H.D. 1

S.D. 1

C.D. 1

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-First State Legislature

Regular Session of 2021

State of Hawaii

Honorable Ronald D. Kouchi

President of the Senate

Thirty-First State Legislature

Regular Session of 2021

State of Hawaii

Sirs:

Your Committee on Conference on the disagreeing vote of the House of Representatives to the amendments proposed by the Senate in H.B. No. 80, H.D. 1, S.D. 1, entitled:

"A BILL FOR AN ACT RELATING TO THE LOW-INCOME HOUSING TAX CREDIT,"

having met, and after full and free discussion, has agreed to recommend and does recommend to the respective Houses the final passage of this bill in an amended form.

The purpose of this measure is to amend the Low-Income Housing Tax Credit by:

(1) Allowing the tax credit to be allocated by a partnership or limited liability company in any manner agreed to by the partners or members, regardless of whether an individual or entity receiving the tax credit is deemed to be a partner or member for federal income tax purposes;

(2) Requiring claims for the tax credit to include an Internal Revenue Service Form 8609;

(3) Specifying the application of certain tax provisions with respect to qualified low-income buildings placed in service after December 31, 2020; and

(4) Extending the sunset date of Act 129, Session Laws of Hawaii 2016, from December 31, 2021, to December 31, 2027.

Your Committee on Conference has amended this measure by:

(1) Deleting language stating that the intent of the measure is not to jeopardize the receipt of any federal aid;

(2) Deleting severability language;

(3) Changing the effective date to July 1, 2021; and

(4) Making technical, nonsubstantive amendments for the purposes of clarity, consistency, and style.

As affirmed by the record of votes of the managers of your Committee on Conference that is attached to this report, your Committee on Conference is in accord with the intent and purpose of H.B. No. 80, H.D. 1, S.D. 1, as amended herein, and recommends that it pass Final Reading in the form attached hereto as H.B. No. 80, H.D. 1, S.D. 1, C.D. 1.

Respectfully submitted on behalf of the managers:

ON THE PART OF THE SENATE

ON THE PART OF THE HOUSE

____________________________ SHARON MORIWAKI Chair	____________________________ NADINE K. NAKAMURA Co-Chair
	____________________________ SCOTT Y. NISHIMOTO Co-Chair