SB858 - Relating To Housing.

5 Co-Sponsors

Requires the Hawaii Housing Finance and Development Corporation to: prioritize the allocation of low-income housing tax credits to state-owned development projects; amend the Low-Income Housing Tax Credit Qualified Allocation Plan to allow up to twenty per cent of the maximum one hundred twenty points on the application criteria point system to be allocated to projects offering to convey ownership of the completed project to the State or an organization obliged to use all financial surpluses generated by the project to construct more housing; not award additional points for developer fees that are under twelve per cent; and prioritize applicants who have demonstrated accelerated full repayment into the rental housing revolving fund of past rental housing revolving fund loans. (SD1)