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Bill

HCR 38

DECLARING THE INTENT THAT AFFORDABLE HOUSING CREDITS ARE PERPETUAL AND REMAIN VALID UNTIL REDEEMED, AND REQUESTING THE COUNTIES TO RECOGNIZE THESE CREDITS WITHOUT EXPIRATION DATES.

2026 Regular Session Introduced by Terez Amato and 11 co-sponsors

Hawaii concurrent resolution declaring affordable housing tax credits should never expire, requesting counties honor them indefinitely to boost housing development incentives.

To be offered.
#affordablehousingcredits #affordablehousingprograms #counties #perpetualduration
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WeVote Research Nonpartisan
Bill Summary · HCR 38

Legislative bill overview

HCR 38 is a Hawaii concurrent resolution that declares the state's intent to make affordable housing tax credits perpetual and non-expiring. The bill requests that counties recognize and honor these credits indefinitely until they are actually used by recipients, eliminating any sunset provisions or expiration dates currently attached to such credits.

Why is this important

Affordable housing credits are financial incentives designed to encourage development and preservation of low-income housing stock. By removing expiration dates, the bill aims to increase their utility and value for developers and property owners, potentially making affordable housing projects more economically viable and encouraging long-term participation in affordable housing programs.

Potential points of contention

  • Fiscal uncertainty: Perpetual credits create undefined long-term revenue impacts for counties and the state, making budget forecasting and planning difficult for government entities
  • Program prioritization: Credits without expiration may benefit older projects or wealthy developers who can afford to hold credits long-term, potentially disadvantaging newer applicants or smaller developers with immediate needs
  • County implementation variance: Requesting counties to unilaterally recognize perpetual credits without clear statutory authority or funding mechanisms may create inconsistent implementation across jurisdictions and legal conflicts over authority

Compiled from official sources — confirm details with the bill’s official record.

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