HI HB1307

Establishes a State Commission on Fiscal Responsibility within the Department of Taxation to review expenditures, revenue enhancement, and tax policy improvements.

Commission membership consists of 9 members: 2 appointed by the governor (at least one from the state council on revenues), 2 state senators (one as co-chair), 2 state representatives (one as co-chair), the director of taxation or designee, the director of finance or designee, one nonprofit legal services representative, and one nonprofit tax policy analyst representative.

Commission shall identify policies to improve revenue enhancement and achieve long-term fiscal security, research and propose spending recommendations, and identify steps to create a more balanced and progressive tax structure.

Commission must submit findings and recommendations to the legislature no later than 20 days before the 2023 regular legislative session, requiring approval from at least two-thirds of commission members.

Commission ceases to exist on June 30, 2024; takes effect July 1, 2021.