HI HCR255

Request Tax Review Commission to study projected net loss to Hawaii residents in federal tax liability resulting from how state and county governments are currently funded

Hawaii State funds many services (education, ambulance, hospitals, courts, corrections) that counties fund in most mainland states, resulting in lower property tax requirements

Federal tax code allows deduction of real property taxes based on assumption most states use property tax revenue for these services, potentially disadvantaging Hawaii taxpayers who pay less in property taxes

Tax Review Commission must submit report with findings, recommendations, and any proposed legislation no later than twenty days before the 2012 Regular Session convenes