HI HB1525

Establishes the State Commission on Fiscal Responsibility and Reform within the Department of Taxation to review and make recommendations on expenditures, revenue enhancement, and tax reform.

Commission membership consists of two gubernatorial appointees, two Senate members (one as co-chair), two House members (one as co-chair), the Directors of Taxation and Finance (or designees), one representative from the Legal Aid Society of Hawaii, and one representative from the Tax Foundation of Hawaii.

Commission shall identify policies to improve revenue enhancement and achieve long-term fiscal security, research and propose recommendations on state spending, and identify steps to reform Hawaii's tax laws for a more balanced and progressive structure.

Commission must submit findings and recommendations to the legislature no later than 20 days before the 2015 regular session, with approval required from at least two-thirds of total commission members.

Commission members serve without compensation but receive reimbursement for necessary expenses; commission ceases to exist on June 30, 2015, with the Act taking effect July 1, 2030.