Bill Text: HI HB1738 | 2024 | Regular Session | Introduced
Bill Title: Relating To Taxation.
Spectrum: Partisan Bill (Republican 4-0)
Status: (Introduced - Dead) 2024-01-24 - Referred to ECD, FIN, referral sheet 1 [HB1738 Detail]
Download: Hawaii-2024-HB1738-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
1738 |
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THIRTY-SECOND LEGISLATURE, 2024 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to taxation.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. (a) The department of taxation, in consultation with the department of business, economic development, and tourism, shall study the feasibility of replacing the income and general excise taxes with a new retail sales tax or other tax.
(b) As part of its study, the department of taxation shall conduct an economic impact analysis of the effects of restructuring the state tax system, including:
(1) Cost estimates of the proposed conversion to a retail sales tax, including anticipated administrative costs;
(2) The anticipated economic impact on taxpayers in Hawaii arising from the conversion;
(3) The expected percentage of the sales tax that will be "exported" to visitors to Hawaii who purchase Hawaii goods and services;
(4) The anticipated impact on the collection of state tax revenues in Hawaii;
(5) The expected rate at which the new sales tax must be established in order to generate sufficient revenues to replace the general excise and income taxes; and
(6) Any other information that the department of taxation and department of business, economic development, and tourism consider to be appropriate to policy makers.
(c) The department of taxation and department of business, economic development, and tourism shall consult with the Tax Foundation of Hawaii, the Chamber of Commerce of Hawaii, and other private entities as may be necessary in the course of the study.
(d) The department of taxation shall submit a
report of its findings and recommendations, including any proposed implementing
legislation, to the legislature no later than twenty days prior to the
convening of the regular session of 2025.
SECTION 2. This Act shall take effect upon its approval.
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INTRODUCED BY: |
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Report Title:
Taxation; DOTAX; DBEDT; Sales Tax; Income Tax; General Excise Tax; Study; Proposed Legislation
Description:
Directs the Department of Taxation, in consultation with the Department of Business, Economic Development, and Tourism, to study the feasibility of replacing the income and general excise taxes with a new retail sales tax or other tax. Requires the Department of Taxation to submit a report of its findings and recommendations, including proposed implementing legislation, to the Legislature prior to the 2025 Regular Session.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
