HI SB247

Requires the six-year program and financial plan and budget to include tax expenditure information broken down by kinds of taxes for each fiscal year.

Defines "tax expenditures" as revenue lost due to tax credits, exemptions, deductions, and abatements, excluding compromises, settlements, or closing agreements.

Appropriates $50,000 for fiscal year 2015-2016 and $50,000 for fiscal year 2016-2017 to the Department of Taxation to prepare the required tax expenditure information.

Applies to six-year program and financial plans and budgets submitted after the effective date under Hawaii Revised Statutes sections 37-69, 37-71, and 37-72.

Takes effect July 1, 2016, except the appropriation takes effect July 1, 2015.