[§201B-12]  Exemption of authority from
taxation and Hawaii public procurement code.  (a)  All revenues and
receipts derived by the authority from any project or a project agreement or
other agreement pertaining thereto shall be exempt from all state taxation. 
Any right, title, and interest of the authority in any project shall also be
exempt from all state taxation.  Except as otherwise provided by law, the
interest of a qualified person or other user of a project or a project
agreement or other agreements related to a project 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 qualified person or user.



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