Haw. Code R. § 15-306-11 - Types of income eligible for exemption
(a) With respect to
for-sale housing projects, the gross income received by a qualified person or
firm as allowable development costs, allowable construction costs, or allowable
financing costs for the planning, design, financing, construction, or sale of
an eligible housing project may be exempt from general excise taxes.
(b) With respect to rental housing projects,
the gross income received by a qualified person or firm as allowable
development costs, allowable construction costs, or allowable financing costs
for the planning, design, financing, construction, moderate rehabilitation, or
substantial rehabilitation of an eligible housing project may be exempt from
general excise taxes.
(c) Rents
received from residential units in a rental housing project may be exempt from
general excise taxes; provided that in an economically integrated housing
project in which only a portion of the units in a project are targeted for
lower income households, the exemption shall apply to only that portion
targeted for lower income households.
(d) Revenues received from commercial,
industrial, or other nonresidential uses within an eligible housing project,
such as coin operated vending machines, laundromats, parking fees, and the
like, shall not be eligible for an exemption from general excise
taxes.
(e) Except for moderate
rehabilitation and substantial rehabilitation, revenues received for
contracting, services, and materials provided in connection with the
management, operation, maintenance, and repair of a rental housing project
shall not be eligible for an exemption from general excise taxes.
Notes
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