67
HOUSE OF REPRESENTATIVES             H.C.R. NO.            
TWENTIETH LEGISLATURE, 2000                                
STATE OF HAWAII                                            
                                                             
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                     HOUSE  CONCURRENT
                        RESOLUTION

REQUESTING THE HOUSING AND COMMUNITY DEVELOPMENT CORPORATION OF
   HAWAII TO ADMINISTER THE LOW INCOME HOUSING TAX CREDIT
   PROGRAM IN A MANNER THAT IS NOT UNDULY RESTRICTIVE FOR BOND
   FINANCED PROJECTS AND TO CONSIDER THE HOUSING NEEDS OF
   MILITARY PERSONNEL AND THEIR DEPENDENTS.



 1       WHEREAS, an objective of the Housing and Community
 2   Development Corporation of Hawaii (Corporation) is to ensure
 3   the availability of adequate housing for low-income families by
 4   providing public rental housing facilities at a reasonable cost
 5   and in a safe and decent environment; and
 6   
 7       WHEREAS, the provision of an adequate supply of low-income
 8   housing is important in Hawaii due to the high cost of living
 9   associated with being an island community; and
10   
11       WHEREAS, the federal government encourages the development
12   of housing for low-income families by providing a tax credit
13   for low-income housing projects in section 42 of the Internal
14   Revenue Code of 1986 (IRC), as amended, and provides financing
15   for low-income housing by allowing states and cities to issue
16   tax-exempt bonds; and
17   
18       WHEREAS, strict requirements must be met to obtain low-
19   income housing tax credits and tax-exempt bonds under federal
20   law; and
21   
22       WHEREAS, a large number of military personnel, whose income
23   levels satisfy the low-income criteria, are stationed in
24   Hawaii, which impacts the availability of civilian housing; and
25   
26       WHEREAS, the Corporation administers the federal Low-income
27   Housing Tax Credit Program and issues tax-exempt bonds for low-
28   income housing in Hawaii; now, therefore,
29   
30       BE IT RESOLVED by the House of Representatives of the
31   Twentieth Legislature of the State of Hawaii, Regular Session
32   of 2000, the Senate concurring, that the Corporation is
33   requested to consider the housing needs of military personnel
34   when administering the Low-income Housing Tax Credit Program;
35   and

 
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                                  H.C.R. NO.            
                                                        
                                                        

 
 1       BE IT FURTHER RESOLVED that the Corporation is requested to
 2   support federal legislation that provides that section 42 of
 3   the IRC applies to certain military housing; and
 4   
 5       BE IT FURTHER RESOLVED that the Corporation is requested to
 6   develop and implement a qualified allocation plan for purposes
 7   of section 42(m)(1)(D) of the IRC that considers the criteria
 8   described in section 42(m)(1)(C) of the IRC, but does not
 9   impose restrictions other than those set forth in section 42 or
10   sections 141 through 147 of the IRC; and
11   
12       BE IT FURTHER RESOLVED that when issuing bonds, the
13   Corporation is requested to give priority to the use of the
14   bonds for financing low-income housing eligible for the federal
15   tax credit under section 42 of the IRC; and
16   
17       BE IT FURTHER RESOLVED that the Corporation is requested to
18   submit a report of the actions taken pursuant to this request
19   to the Legislature no later than twenty days prior to the
20   convening of the Regular Session of 2001; and
21   
22       BE IT FURTHER RESOLVED that certified copies of this
23   Concurrent Resolution be transmitted to the Director of the
24   Corporation, the Adjutant General of Defense, and the Commander
25   in Chief of the United States Pacific Command.
26 
27 
28 
29                         OFFERED BY:  ____________________________