[§201B-12]  Exemption of authority fromtaxation and Hawaii public procurement code.  (a)  All revenues andreceipts derived by the authority from any project or a project agreement orother agreement pertaining thereto shall be exempt from all state taxation. Any right, title, and interest of the authority in any project shall also beexempt from all state taxation.  Except as otherwise provided by law, theinterest of a qualified person or other user of a project or a projectagreement or other agreements related to a project shall not be exempt fromtaxation to a greater extent than it would be if the costs of the project weredirectly financed by the qualified person or user.

(b)  The authority shall not be subject tochapter 103D and any and all other requirements of law for competitive biddingfor project agreements, construction contracts, lease and sublease agreements,or other contracts unless a project agreement with respect to a projectotherwise shall require. [L 1998, c 156, pt of §2]