Section 15-306-14 - Criteria for determining eligibility of projectsIn approving or disapproving a project for exemption from general excise taxes, the corporation shall determine whether:
(1) The project is an eligible housing project under these rules;(2) The exemption from general excise taxes will achieve cost savings to assure economic feasibility which will encourage and enable the production or preservation of as many lower cost housing units as possible; and(3) The project is consistent with any other requirements under the law or under this chapter. The corporation may disapprove a project for exemption from general excise taxes if these criteria are not met.
[Eff 10/08/07; am 09/05/08; am and comp 12/11/10; comp 12/11/15] (Auth: HRS §§201H-36, 237-29) (Imp: HRS §§201H-36, 237-29)