Hawaii HB462 proposes an interstate compact to phase out corporate welfare, particularly company-specific subsidies.

Hawaii HB462 proposes the Interstate Compact to Phase Out Corporate Welfare Act, which aims to end company-specific subsidies among member states. The compact defines "corporate welfare" as company-specific or industry-specific disbursements by state or local governments. Member states agree to refrain from offering company-specific tax incentives or grants to companies with facilities in other member states. The compact excludes workforce development grants and is not retroactive.

Hawaii HB462 proposes an interstate compact to phase out corporate welfare, particularly company-specific subsidies.

Hawaii HB462 proposes the Interstate Compact to Phase Out Corporate Welfare Act, which aims to end company-specific subsidies among member states. The compact defines "corporate welfare" as company-specific or industry-specific disbursements by state or local governments. Member states agree to refrain from offering company-specific tax incentives or grants to companies with facilities in other member states. The compact excludes workforce development grants and is not retroactive.