HI HB283

Establishes a general excise tax exemption for qualified developers of mixed-use housing projects that combine affordable multi-family residential units with governmental, educational, commercial, cultural, institutional, or industrial uses.

Requires mixed-use projects to be located in "location-efficient areas" (state or county-owned land within half a mile of a mass transit station) and must be approved by the county where the project is located.

Grants the Hawaii Housing Finance and Development Corporation authority to approve and certify qualified persons or firms for the tax exemption in taxable years beginning after December 31, 2016.

Mandates that cost savings from the general excise tax exemption must be used exclusively to provide affordable rental housing units within the mixed-use project, serving as many low-income households as feasible.

Requires state agencies within location-efficient areas to enter into memoranda of understanding by December 31, 2017, to develop at least one mixed-use project under this section, with annual reporting to the legislature on progress and outcomes.