STAND. COM. REP. NO. 1642

Honolulu, Hawaii

, 2023

RE: H.C.R. No. 184

Honorable Scott K. Saiki

Speaker, House of Representatives

Thirty-Second State Legislature

Regular Session of 2023

State of Hawaii

Sir:

Your Committee on Housing, to which was referred H.C.R. No. 184 entitled:

"HOUSE CONCURRENT RESOLUTION URGING THE HAWAII HOUSING FINANCE AND DEVELOPMENT CORPORATION TO REVISE THE PRIORITIZATION AND EVALUATION AND RANKING CRITERIA FOR ITS ALLOCATION OF LOW-INCOME HOUSING TAX CREDITS AND AWARDS FROM THE RENTAL HOUSING REVOLVING FUND,"

begs leave to report as follows:

The purpose of this measure is to urge the Hawaii Housing Finance and Development Corporation to revise the prioritization and evaluation and ranking criteria for its allocation for Low-Income Housing Tax Credits and awards from the Rental Housing Revolving Fund.

Your Committee received comments on this measure from the Hawaii Housing Finance and Development Corporation.

Your Committee finds that the Hawaii Housing Finance and Development Corporation is the designated state agency responsible for the administration of the federal and state Low-Income Housing Tax Credit Program. The Low-Income Housing Tax Credit Program uses a point system to facilitate project rankings based on established evaluation criteria, which states have discretion over. Your Committee believes it is in the best interest of the State to modify the evaluation criteria for the Low-Income Housing Tax Credit Program to prioritize the allocation of credits to state-owned development projects and award additional points to developers obligated to use all financial surpluses generated by the projects to construct more housing to help the State meet its existing and future housing supply demands.

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. 184 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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TROY N. HASHIMOTO, Chair