§246-38  Property of the United Statesleased under the National Housing Act.  Real property belonging to theUnited States leased pursuant to Title VIII of the National Housing Act, asamended or supplemented from time to time:

(1)  Shall not be taxed under this chapter upon thelessee's interest or any other interest therein, except as provided inparagraph (2).

(2)  Shall be taxed under this chapter to the extentof and measured by the value of the lessee's interest in any portion of thereal property (including land and appurtenances thereof and the buildings andother improvements erected on or affixed to the same) used for, or inconnection with, or consisting in, shops, restaurants, cleaning establishments,taxi stands, insurance offices, or other business or commercial facilities. The tax shall be assessed to and collected from the lessee.  The assessment ofsuch property shall not impair, and shall be so made as to not impair, anyright, title, lien, or interest of the United States.

Nothing in this section shall be deemed to bean expression by the legislature as to the construction of this chapter as itread prior to January 1, 1956. [L 1955, c 177, §§1, 2; RL 1955, §128-22.5;HRS §246-38]