H.R. 45 Summary

• Requests the Department of Business, Economic Development, and Tourism (DBEDT) to conduct a study on potential state revenue from legalizing and regulating recreational cannabis.

• Requires DBEDT to consult with the Hawaii Strategic Development Corporation, University of Hawaii Economic Research Organization, and Hawaii Cannabis Industry Association during the study.

• Mandates submission of findings and recommendations, including any proposed legislation, to the Legislature no later than twenty days before the 2022 Regular Session.

• References Colorado's collection of $1,456,299,835 in state cannabis tax revenues since 2014 and combined state tax revenues of $6,900,000,000 from legal adult-use marijuana sales as of February 2021.

• Cites Hawaii's anticipated $1,400,000,000 annual budget shortfall for four years due to COVID-19 as justification for exploring new revenue sources.