HOUSE OF REPRESENTATIVES

H.B. NO.

1924

TWENTY-SEVENTH LEGISLATURE, 2014

 

STATE OF HAWAII

 

 

 

 

 

 

A BILL FOR AN ACT

 

 

relating to the council on revenues.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 


SECTION 1. Chapter 37, Hawaii Revised Statutes, is amended by adding a new section to part VI to be appropriately designated and to read as follows:

"37-   Interdepartmental research task force. (a) There is established an interdepartmental research task force to:

(1) Review the economic models used by the council on revenues to prepare economic and tax revenue forecasts;

(2) Review appropriate and relevant economic data needed for the economic models;

(3) Review the data source, data collection, and the reporting schedule and procedures used for the economic models;

(4) Provide recommendations on the data source, data collection, and reporting schedules and procedures used for the economic models; and

(5) Develop, modify, or update economic models for the council on revenues.

(b) The director of taxation, or the director's designee, and the director of business, economic development, and tourism, or the director's designee, shall serve as co-chairs of the task force.

(c) The members of the task force shall include the following:

(1) Director of finance, or the director's designee;

(2) Director of labor and industrial relations, or the director's designee;

(3) Executive director of the Hawaii tourism authority, or the executive director's designee;

(4) Chair of the council on revenues, or the chair's designee; and

(5) Chief information officer of the office of information management and technology, or the chief information officer's designee."

SECTION 2. There is appropriated out of the general revenues of the State of Hawaii the sum of $125,000 or so much thereof as may be necessary for fiscal year 2014-2015 to assist the department of taxation with the preparation of tax data, including Hawaii income patterns, tax credit filings, general excise and use tax collection by industry, general excise tax by place of business, withholding tax on wages by industry, and transient accommodations tax on timeshares, for use by the interdepartmental research task force established pursuant to section 1 of this Act.

The sum appropriated shall be expended by the department of taxation for the purposes of this Act.

SECTION 3. There is appropriated out of the general revenues of the State of Hawaii the sum of $150,000 or so much thereof as may be necessary for fiscal year 2014-2015 to assist the interdepartmental research task force established pursuant to section 1 of this Act in developing economic models, including models relating to tourism, construction, real estate, income, employment, consumer price index, and tax revenues, to assist the council on revenues with the preparation of state economic and tax forecasts.

The sum appropriated shall be expended by the department of business, economic development, and tourism for the purposes of this Act.

SECTION 4. New statutory material is underscored.


SECTION 5. This Act shall take effect upon its approval; provided that sections 2 and 3 shall take effect on July 1, 2014.

 

INTRODUCED BY:

_____________________________

 

 


 


 

Report Title:

Council on Revenues; Interdepartmental Research Task Force; Appropriation

 

Description:

Establishes an interdepartmental research task force to assist the council on revenues in preparing revenue forecasts for state government. Makes an appropriation to department of taxation to prepare tax data for use in the development of various economic models. Makes an appropriation to the department of business, economic development, and tourism to assist the council on revenues with the development of various economic models.

 

 

 

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