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SB 754 Hawaii Senate · 2025 Regular Session

RELATING TO TAXATION.

Summary
Provides that a tax credit for low-income housing that exceeds the taxpayer's income tax liability for a taxable year may be used as a credit against the taxpayer's income tax liability in subsequent taxable years, but not after the tenth subsequent taxable year.
Issues: ✓ Budget & TaxesSupports Budget & TaxesEnables carryover of unused low-income housing tax credits, providing tax relief for lower-income taxpayers by allowing excess credits to offset future tax liability.92% confidence ✓ HousingSupports HousingBill extends Low-Income Housing Tax Credit carryover, enabling continued investment in affordable housing by allowing unused credits to offset future tax liabilities.95% confidence
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2025
Committee Review
Floor Vote
Governor
Introduced Jan 17, 2025 Last action Jan 23, 2025
Floor votes

How they voted

No floor votes recorded yet.
Full legislative history

Actions timeline

Total actions
3
Key actions
0
Committee
1
Jan 23, 2025
Committee
Referred to WAM.
upper
Jan 17, 2025
Introduced
Introduced.
upper
3 primary · 1 co-sponsor

Sponsors

Role
Legislator
Party
State
District
P
Photo of Angus McKelvey
Angus McKelvey
DDemocratic
HI
6
P
Photo of Stanley Chang
Stanley Chang
DDemocratic
HI
9
P
Photo of Troy Hashimoto
Troy Hashimoto
DDemocratic
HI
5
Co
Photo of Tim Richards
Tim Richards
DDemocratic
HI
4