Hawaii SB3278 mandates annual evaluations of tax expenditures to ensure they remain effective and aligned with public priorities.

Hawaii SB3278 requires annual evaluations of tax expenditures, such as income tax credits and general excise and use tax exemptions, to ensure they remain effective, fair, and aligned with evolving public priorities. The bill mandates that taxpayers claiming certain tax credits or exemptions provide annual disclosures to the Department of Taxation. This information is used to study the effectiveness of these tax expenditures and prepare summary statistics.

Hawaii SB3278 mandates annual evaluations of tax expenditures to ensure they remain effective and aligned with public priorities.

Hawaii SB3278 requires annual evaluations of tax expenditures, such as income tax credits and general excise and use tax exemptions, to ensure they remain effective, fair, and aligned with evolving public priorities. The bill mandates that taxpayers claiming certain tax credits or exemptions provide annual disclosures to the Department of Taxation. This information is used to study the effectiveness of these tax expenditures and prepare summary statistics.