HI HR142

Requests the Hawaii Department of Taxation to annually publish a comprehensive tax expenditure report documenting all tax credits, deductions, and exemptions that reduce state revenue.

Requires the report to include descriptions, legal citations, enactment years, purposes, current and future costs, beneficiary details, and assessment of whether stated purposes have been achieved.

Mandates separate reporting on the distribution of benefits by income level and business size, as well as impacts of deferrable or transferable tax expenditures and state versus local revenue losses.

Directs the Department of Taxation to publish the annual report no later than 20 days before each regular legislative session convenes, using Oregon, Minnesota, and the District of Columbia as potential models.