Haw. Code R. § 15-313-2
The following words and terms, when used in these rules, shall have the following meanings, unless the context clearly indicates otherwise:
"Application" means the application by prospective owners of low income rental housing projects for federal and state low income housing tax credits.
"Board" means the board of directors of the Hawaii housing finance and development corporation.
"Code" means the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder.
"Compliance period" has the same meaning as in §42 (i) (1) of the Code.
"Corporation" means the Hawaii housing finance and development corporation established pursuant to chapter 201H, Hawaii Revised Statutes.
"Credits" means the low income housing tax credits as described in the Code or the HRS, as the case may be.
"Credit period" has the same meaning as in §42(f)(1) of the Code.
"Executive director" means the executive director of the corporation or the executive director's designated representative.
"Extended low income housing commitment" means a regulatory agreement between the corporation and owner as defined by the Code.
"Extended use period" has the same meaning as in §42(h)(6)(D) of the Code.
"Federal credit reservation" means a reservation of federal low income housing tax credits.
"Federal low income housing tax credits" or "federal tax credits" means the credits prescribed in the Code for application against federal income tax liability.
"Form 8609" means IRS form 8609 - low income housing credit allocation and certification, issued by the corporation, which allocates the federal low income housing tax credits.
"HRS" means the Hawaii Revised Statutes,, as amended, and the rules promulgated thereunder.
"Low income housing units" means a housing unit or units which meet the applicable requirements in section 42 of the Code or section 235-110.8, HRS, to qualify for the credits thereunder.
"Owner" means the owner or owners of low income housing units or investors in such units.
"Project" means a qualified low income housing project as that term is defined in section 42(g) of the Code.
"Qualified allocation plan" means the mechanism by which the corporation promulgates the criteria by which it will determine which projects will be granted a reservation of tax credits.
"Qualified non-profit organization" means the same as defined in the Code, section 501(c)(3).
"State" means the State of Hawaii.
"State credit reservation" means a reservation of state low income housing tax credits.
"State housing needs assessment" means the housing study prepared to identify the geographic and demographic areas in greatest need.
"State low income housing tax credits" or 'state tax credits" means the credits prescribed in section 235-110.8, HRS, for application against state income tax liability.
Haw. Code R. § 15-313-2