S.B. NO.



S.D. 1
















SECTION 1. Chapter 231, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:

"231-   Annual reports on tax credits or exemptions relating to economic development; posting on department website. (a) For every authorized state tax credit or exemption that has a purpose related to economic development, the state agency required to certify or otherwise administer the tax credit or exemption shall submit a report to the department of taxation. If no agency is required to certify or administer the tax credit or exemption, or if certification or administration of the tax credit or exemption is not otherwise required, the department shall prepare the report. The department shall identify the relevant authority and notify the respective agencies of the requirements of this section no later than August 1 of each year.

(b) Each report shall include the following information, if it is already available in an existing database maintained by the agency or the department:

(1) The name of each taxpayer approved for the tax credit or exemption;

(2) The address of the taxpayer;

(3) The total amount of credit against tax liability, reduction in taxable income, or exemption from property taxation granted to the taxpayer;

(4) Specific outcomes or results required by the tax credit or exemption and information about whether the taxpayer meets the requirements. The information shall be based on data already collected and analyzed by the agency in administering the tax credit or exemption. If statistics are provided, a description of the methodology used in generating the statistics shall be included;

(5) An explanation of the agency's certification decision for the taxpayer, if applicable;

(6) Any other information submitted by the taxpayer and relied upon by the agency in its certification determination;

(7) Any other information that the agency deems valuable as providing context for the information required in this subsection; and

(8) Any other information required by the department.

(c) The information required by subsection (b) shall not include proprietary information or any other information exempt from disclosure as determined by the department.

(d) No later than September 30 of each year, an agency subject to subsection (a) shall submit to the department the information required under subsection (b) regarding applications for the tax credits or exemptions approved by the agency during the prior fiscal year. The information shall be posted on the department's website no later than December 31 and shall be accessible in the format and manner required by the department. The reports shall be separate from the report on tax credits required by section 231-3.4.

(e) The department shall adopt rules pursuant to chapter 91 to implement this section."

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 2012-2013 for the preparation and electronic posting of annual reports on tax credits or exemptions relating to economic development.

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

SECTION 3. New statutory material is underscored.

SECTION 4. This Act shall take effect on July 1, 2012.



Report Title:

Taxation; Tax Credits and Exemptions Relating to Economic Development; Reports; Website Posting; Appropriation



Requires state agencies or the department of taxation to prepare reports relating to authorized tax credits or exemptions that have a purpose related to economic development. Requires the department of taxation to post the reports on its website. Appropriates unspecified funds. (SD1)




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