HRS §39A-125
Tax exemption for department property
This section says the department's income from a project and its ownership rights in the project are free from state and county taxes. But the private party or user's interest is only tax-exempt to the same extent as if they had paid for the project themselves.
everyone
The statute, as written — ‑125 Exemption from taxation of department property
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 such project in a project or 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.
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