HI HB1086

Exempts development of homestead lots or housing for the Department of Hawaiian Home Lands from general excise and use taxes, including planning, design, financing, and construction activities by qualified persons or firms.

Applies to new construction, moderate rehabilitation, or substantial rehabilitation projects developed under government assistance programs approved by DHHL, nonprofit organization sponsorship, or to provide affordable rental housing where at least 50% of units serve households at or below 80% of area median family income.

Requires all exemption claims to be filed with and certified by the Department of Hawaiian Home Lands before being forwarded to the Department of Taxation by the claimant.

Defines key terms including "homestead lot" (residential, agricultural, or pastoral use awarded under Hawaiian Homes Commission Act, 1920), "moderate rehabilitation," "substantial rehabilitation," and "qualified person or firm."

Takes effect July 1, 3000.