HI SCR158

Requests convening a joint task force composed of the Senate Ways and Means Committee Chair, House Finance Committee Chair, and a Governor-designated representative to identify revenue sources and cost reduction measures.

Identifies uncollected revenues from transient vacation rentals, hotel resort fees, online accommodation intermediaries, and proposes examining increased conveyance taxes on residential properties valued at $2,000,000 or more.

Directs task force to examine increasing nonresident real property disposition tax withholding from five to nine percent and amending the transient accommodations tax formula for timeshare units.

Requires the Governor to share the six-year financial plan with the Legislature at least 20 days before each regular session convenes and encourages quarterly task force meetings to review and update the financial plan.

Directs task force to identify methods for collecting uncollected revenues, generating revenue through tax measures with minimal impact on low- and moderate-income families, and reducing costs through position reclassification and eliminating unnecessary vacancies.