HI HB1055

Exempts any development of homestead lots or housing for the Department of Hawaiian Home Lands from general excise and use taxes.

Applies to planning, design, financing, and construction of homestead lots or housing developed for the department, under government assistance programs, through nonprofit organizations, or as affordable rental housing with at least 50% of units for households earning at or below 80% of area median family income.

Requires exemption eligibility approval by the Department of Hawaiian Home Lands, with claims filed and certified by the department before forwarding to the Department of Taxation.

Authorizes the Department of Hawaiian Home Lands to establish and collect reasonable service fees for approvals and certifications, with fees deposited into the Hawaiian Home Operating Fund.

Effective January 1, 2024.