HI HR195

Directs the Department of Business Economic Development and Tourism, with assistance from the Department of Taxation, to conduct a study on recent migration of wealth to and from Hawaii and its impact on tax collections.

Cites Hawaii's 2009 tax increases (Act 59 on conveyance taxes and Act 60 on income taxes targeting high earners) that failed to generate expected revenues, with FY2010 income tax collections falling 9.3% compared to the previous year.

References economic research showing wealthy individuals and businesses migrate to lower-tax jurisdictions, citing examples from New Jersey which lost $70 billion in household wealth after raising taxes on the wealthy by 40%.

Requires the Department of Business Economic Development and Tourism to submit findings to the Legislature no later than 20 days prior to the convening of the Regular Session of 2011.

Directs certified copies of the resolution to be transmitted to the Director of the Department of Business Economic Development and Tourism, the Director of the Department of Taxation, and the Governor of Hawaii.