HI HB735

Enacts the Interstate Compact to Phase Out Corporate Welfare, allowing any U.S. state or the District of Columbia to join by enacting the compact.

Prohibits member states from offering company-specific tax incentives, grants, or subsidies to companies already located in other member states, or to companies relocating from other member states.

Excludes workforce development grants for employee training from the compact restrictions, and makes the compact non-retroactive regarding existing company-specific grants (though modifications to existing grants count as new grants).

Establishes a National Board of States with one appointee per member state's chief executive officer to convene annually, collect testimony, and publish recommended revisions to expand the compact to phase out all forms of corporate welfare.

Takes effect July 1, 2023; allows member states to withdraw with six months' written notice and provides enforcement through state attorneys general and taxpayer standing in courts.