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 Resolution clarifies that affordable housing credits issued in Hawaii are perpetual assets that remain valid until they are used to fulfill housing obligations, rather than having expiration dates. It directs county governments to align their administrative policies with state law to ensure these credits retain their full value and transferability without time-based restrictions. The resolution also requests that future agreements between counties and housing agencies avoid adding conditions that could limit the credits' utility or lifespan. This measure aims to provide long-term stability for developers participating in affordable housing programs while ensuring counties recognize these credits as permanent financial tools.