HRS §39A-165
Tax exemption for department project income and property
This section says that money the department earns from a project and its ownership interest in the project are free from state and county taxes. But the project party or user's interest is only tax-exempt to the same extent as if they had paid for the project themselves, unless the law says otherwise.
businessesstate agencies
The statute, as written — ‑165 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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