HI SB713

Requires the state six-year program and financial plan and budget to include information on tax expenditures (revenue lost due to tax credits, exemptions, deductions, and abatements) broken down by type of tax for each fiscal year.

Defines "tax expenditure" as an exemption, deduction, credit, exclusion, or other deviation from normal tax structure, excluding compromises/settlements and Internal Revenue Code conformity provisions.

Mandates the department of taxation provide tax expenditure information to the department of budget and finance upon request to support budget planning and public transparency.

Applies to all six-year program and financial plans, budgets, and supplemental budgets submitted after the effective date.

Effective date is July 1, 2018, providing the department of taxation time to prepare for providing the required tax expenditure data and implementing capabilities through its tax system modernization project.