Haw. Code R. § 15-306-13 - Application for certification of rental housing projects

The following requirements shall apply to requests for exemptions from general excise taxes for affordable rents received from affordable housing units in newly constructed or moderately or substantially rehabilitated rental housing projects:

(1) The claimant shall annually complete and submit to the corporation a general excise tax exemption claim (department of taxation form G-37);

(2) Along with the claim form, the claimant shall submit to the corporation the following information on the eligible housing project:

(A) A description of the eligible housing project, including the number of housing units affordable to households earning up to fifty per cent, sixty per cent, eighty per cent, ninety-five per cent, and one hundred forty per cent, respectively, of the area median income, as determined by HUD;

(B) A schedule showing rents charged on all housing units providing verification that the lower income household tenants meet the income criteria necessary for the tax exemption and an audited income statement or a reconciliation of the department of taxation form G-49 for the claimant's project if provided for in the regulatory agreement;

(C) Authorization for the corporation to conduct on-site inspections of the project;

(D) A written statement indicating how any cost savings realized from the exemption from general excise taxes will be used; and

(E) Any additional information necessary for the corporation to make a determination;

(3) Upon receipt, staff of the corporation shall time stamp the claim form; and:

(A) If the claimant is found to be eligible under these rules, staff shall issue a certification for exemption within ten working days thereafter, and shall forward the original of the certified claim form to the department of taxation; or

(B) If a person or entity is found to be ineligible under these rules, staff shall, within ten working days of receipt, so notify the claimant, along with the reason or reasons that the claim is ineligible for an exemption.

In no event shall the corporation accept a claim for certification more than three years following the close of the claimant's taxable year for which the exemption is claimed.

Notes

Haw. Code R. § 15-306-13

[Eff 10/08/07; am 09/05/08; am and comp 12/11/10; comp 12/11/15] (Auth: HRS § 237-29) (Imp: HRS § 237-29) Am and Comp 10/27/2018 Comp 2/18/2022