HI SB1105

Expands general excise tax exemptions for rental housing projects to include those where all units serve households earning up to 140% of area median family income, with at least 20% of units for households at or below 80% of median income.

Allows collective bargaining agreements and project labor agreements to be deemed prevailing wages for certain rental housing projects certified by the Hawaii Housing Finance and Development Corporation, rather than requiring separate prevailing wage determinations.

Amends chapter 104 (prevailing wages) to establish new prevailing wage rules for Section 201H-36(a)(5) rental housing projects that meet specified collective bargaining or project labor agreement requirements.

Provides minimum wage floor of federal prevailing wages if collective bargaining agreement terms do not include wage specifications.

Effective July 1, 2050, with automatic repeal unless reenacted, reverting sections 104-2 and 201H-36 to their prior form.