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.

This Senate Concurrent Resolution clarifies that affordable housing credits issued under Hawaii's housing laws are permanent assets that remain valid until they are used to fulfill affordable housing obligations, rather than having expiration dates. The bill directly affects county governments, the Hawaii Housing Finance and Development Corporation, and developers who rely on these credits to build affordable housing units. It requests that counties align their administrative policies and memoranda of agreement with state law to ensure these credits are not restricted by time limits or other conditions not authorized by statute. The resolution aims to protect the value and transferability of these credits to encourage continued private investment in affordable housing projects.