SB651

Hawaii SB651 mandates transparency and accountability for tax expenditures.

Hawaii SB651 requires laws enacting, modifying, or extending tax expenditures to include specific details. These include the intent behind the tax expenditure, an analysis of its economic and employment benefits, a repeal date, a static revenue estimate, and an analysis of the expenditure's effectiveness. The bill also mandates public disclosure of the claimant taxpayer's identity and the amount of tax expenditure claimed for certain economic activities. Exemptions apply to certain tax expenditures, such as those related to aircraft leasing and labor organizations.