Hawaii Revised Statutes 39A-326 – Exemption from taxation of department property
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Terms Used In Hawaii Revised Statutes 39A-326
- county: includes the city and county of Honolulu. See Hawaii Revised Statutes 1-22
- Department: means the department of budget and finance. See Hawaii Revised Statutes 39A-311
- Project: means any combination of land, buildings, and other improvements thereon, including without limitation irrigation systems and infrastructure, for use of, or for, or to assist an agricultural enterprise, including without limiting the generality of the foregoing, machinery, equipment, furnishings, and apparatus that are deemed necessary, suitable, or useful to the enterprise. See Hawaii Revised Statutes 39A-311
- Project agreement: means any agreement entered into under this part by the department with a project party to finance, construct, operate, or maintain a project from the proceeds of special purpose revenue bonds, or to lend the proceeds of special purpose revenue bonds to assist an agricultural enterprise, including without limitation any loan agreement. See Hawaii Revised Statutes 39A-311
- Project party: means a person, firm, or corporation qualified to do business in this State and conducting or proposing to conduct an agricultural enterprise. See Hawaii Revised Statutes 39A-311
All revenues derived by the department from any project or under the project agreement pertaining thereto shall be exempt from all state and county taxation. Any right, title, and interest of the department in any project shall also be exempt from all state and county taxation.
Except as otherwise provided by law, the interest of the project party or user of the project under the project agreement or related agreement shall not be exempt from taxation to a greater extent than it would be if the costs of the project were directly financed by the project party or other user.