HB462

Hawaii HB462 creates an Interstate Compact to phase out corporate welfare by prohibiting company-specific tax incentives and grants.

Hawaii HB462 establishes an Interstate Compact to phase out corporate welfare. Member states agree to refrain from offering company-specific tax incentives or grants to companies with facilities in other member states. The compact creates a national board to draft improvements and revisions, aiming to end corporate welfare practices. A taxpaying resident of any member state can enforce the compact in court. The compact excludes workforce development grants and is not retroactive.