Report Title:

Hawaii's Economy

 

Description:

Authorizes an independent study and analysis of Hawaii's economy, including recommendations for public policy changes that will begin to address the cost of living, affordability, and quality of life issues that Hawaii residents face.

 


HOUSE OF REPRESENTATIVES

H.B. NO.

2040

TWENTY-FOURTH LEGISLATURE, 2008

 

STATE OF HAWAII

 

 

 

 

 

A BILL FOR AN ACT

 

 

relating to hawaii's economy.

 

 

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

 


     SECTION 1.  The legislature finds that, according to the latest data from the United States Census Bureau, Hawaii's population rose at its slowest rate in seven years in the year ending June 30, 2007.  This can be attributed to a number of factors, including steep housing and property costs that have resulted in commercial, industrial, and tenant rentals among the highest in the fifty states; and increased out-of-state investments that result in earnings leaving the State.  The resulting cost of living, which is one of the nation's highest, has lead to an increased exodus of Hawaii residents in recent years.

     The legislature further finds that the various government entities in Hawaii provide services that are among the most extensive in the United States, yet these same government agencies face rising operating and repair and maintenance costs that must be passed on to the public.  In addition, Hawaii's tax structure affects businesses and consumers alike and has been linked to the difficulty of attracting new investment to the State.

     The purpose of this Act is to authorize an independent study and analysis of Hawaii's economy, including recommendations for public policy changes that will begin to address the cost of living, affordability, and quality of life issues that Hawaii residents face.

     SECTION 2.  There is appropriated out of the general revenues of the State of Hawaii the sum of $           or so much thereof as may be necessary for fiscal year 2008-2009 for an independent study and analysis of Hawaii's economy, including recommendations for public policy changes that will begin to address the cost of living, affordability, and quality of life issues that Hawaii residents face.

     The sum appropriated shall be expended by the department of business, economic development, and tourism for the purposes of this Act; provided that the department shall contract with an out-of-state entity to conduct the study.

     SECTION 3.  The department of business, economic development, and tourism shall report no later than twenty days prior to the convening of the regular session of 2009 on the results of the study, including any recommendations for changes in public policies.

     SECTION 4.  This Act shall take effect on July 1, 2008.

 

INTRODUCED BY:

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