§246-16  Classification.  Within fourmonths after the filing of the application with the director of taxation, thedirector shall make a finding of fact as to the eligibility of such land forclassification as wasteland development property, whether it can be developedin the manner specified by the owner, whether the development will add to thedevelopment of the economy of the State, and whether the development willbroaden the tax base of the State.  The determination shall be based upon allavailable information on soils, climate, land use trends, watershed values,present use of surrounding similar lands, and other criteria as may beappropriate.

Upon the finding by the director that theproperty is eligible for classification as wasteland development property, thatit can be developed in the manner specified by the owner, that the developmentwill add to the economy of the State, and that it will broaden the tax base ofthe State, the property shall be classified as wasteland development property. If the director finds it otherwise for any one of the above criteria, theapplication shall be disapproved.

The applicant may appeal any disapprovedapplication as in the case of an appeal from an assessment.

Land classified as wasteland development propertyshall be administered by the department of taxation and the department may fromtime to time make rules and regulations for their administration pursuant tochapter 91. [L 1965, c 255, §5; Supp, §128-9.34; HRS §246-16]