Section 15-306-34 - Exemptions for projects developed under a contract compliant with section 104-2 (i) (2), HRS(a) From July 1, 2018 to June 30, 2030, the corporation may approve and certify eligible persons or firms involved with a newly constructed, or substantially rehabilitated affordable rental housing project for exemption from general excise taxes, provided that: (1) All available units in the affordable rental housing project are for persons and families at or below one hundred forty per cent of the area median family income as determined by HUD, of which at least twenty per cent of the available units are for households with incomes at or below eighty per cent of the area median family income as determined by HUD;(2) The affordable rental housing project has received no other direct or indirect financing for the construction project from any other government contracting agency, including the corporation; and(3) The project owner shall not refuse to lease a unit to an applicant solely because the applicant holds a voucher or certificate of eligibility under section 8 of the United States Housing Act of 1937, as amended.(b) Claimants under this section are subject to all applicable requirements set forth in subchapters 1 and 2 of these rules. [Eff 10/27/2018] (Auth: HRS §§ 104-2, 237-29, 201H-36) (Imp: HRS §§ 201H-36, 237-29)