H.B. 1355 - Commission on Fiscal Responsibility

• Establishes a state commission on fiscal responsibility within the department of taxation to review expenditures, revenue enhancement, and tax policy improvements.

• Commission membership includes two gubernatorial appointees, two state senators, two house representatives, directors of taxation and finance, and representatives from the Legal Aid Society of Hawaii and Tax Foundation of Hawaii.

• Commission shall identify revenue enhancement policies, research state spending recommendations, and propose steps to improve tax policy toward a more balanced and progressive structure.

• Commission must submit findings and recommendations to the legislature no later than twenty days before the 2017 regular session, requiring approval from at least two-thirds of members.

• Commission ceases to exist on June 30, 2017; the act takes effect on July 1, 2030.