Bill Text: HI HCR155 | 2020 | Regular Session | Introduced


Bill Title: Requesting The Tax Review Commission To Study And Submit A Report On The Tax Ramifications Of Enacting Legislation That Addresses Climate Change Mitigation And Adaptation Factors In Hawaii.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-03-11 - Referred to FIN, referral sheet 40 [HCR155 Detail]

Download: Hawaii-2020-HCR155-Introduced.html

HOUSE OF REPRESENTATIVES

H.C.R. NO.

155

THIRTIETH LEGISLATURE, 2020

 

STATE OF HAWAII

 

 

 

 

 

HOUSE CONCURRENT

RESOLUTION

 

 

REQUESTING THE TAX REVIEW COMMISSION to study and submit a report on the tax ramifications of enacting LEGISLATION that addresses climate change mitigation and adaptation factors in hawaii.

 

 


     WHEREAS, global warming has been proven to cause various climate change impacts, including, but not limited to, rising sea levels, rising ocean temperatures, an increase in the number and intensity of violent tropical storms, and increasing ocean acidification; and

 

     WHEREAS, the State of Hawaii is especially vulnerable to rising sea levels, especially the physical and economic losses associated with rising sea levels; and

 

     WHEREAS, climate scientists generally agree that the primary cause of climate change is the emission of carbon dioxide from the combustion of fossil fuels; and

 

     WHEREAS, the Hawaii Climate Change Mitigation and Adaptation Commission has stated that the single most effective means of reducing greenhouse gas emissions is to put a price on carbon; and

 

     WHEREAS, addressing the need for mitigation of and adaptation to certain adverse impacts of climate change will require the Legislature to enact various measures, some of which may or will involve the imposition of new taxes and others of which may or will have ramifications for individuals, businesses, or other entities under the State's tax laws as they now exist or may be revised; now, therefore,

 

     BE IT RESOLVED by the House of Representatives of the Thirtieth Legislature of the State of Hawaii, Regular Session of 2020, the Senate concurring, that the Tax Review Commission conduct a study on the tax ramifications of enacting legislation, which addresses the impacts of climate change; and

 

     BE IT FURTHER RESOLVED that the study address:

 

     (1)  Any provisions of existing state law by which a business entity, if subject to a carbon tax, would be able to deduct any taxes paid under the carbon tax as a business expense;

 

     (2)  Any unintended consequences of utilizing the framework of the barrel tax to impose a carbon tax, assuming the current level of revenues allocated to various special funds under the existing barrel tax are maintained;

 

     (3)  Any unintended effects, advantages, and disadvantages to enacting a carbon tax to disincentivize the use of fossil fuels, if a portion of the revenue from such a tax is used to fund actions to mitigate climate change;

 

     (4)  Any relative advantages or disadvantages of enacting various options to offset the regressive nature of a carbon tax, including, but not limited to, a refundable income tax credit to taxpayers with household incomes below the median level; a refundable income tax credit to taxpayers with household incomes below the median level that increases as the household incomes of the taxpayers decrease; or a "dividend" payment to residents of the State over 18 years old; and

 

     (5)  Whether the effectiveness of a carbon tax would be diminished by "refunding" some or all the revenue to individual taxpayers or residents through a tax credit or a dividend payment; and

 

     BE IT FURTHER RESOLVED that the Tax Review Commission may contract the services of a consultant to complete the study; and

 

     BE IT FURTHER RESOLVED that the Tax Review Commission is requested to submit a report of its findings and recommendations, including any proposed legislation, to the Legislature no later than forty days prior to the convening of the Regular Session of 2021; and

 

     BE IT FURTHER RESOLVED that certified copies of this Concurrent Resolution be transmitted to the Director of the Department of Taxation, Chairperson of Hawaii Tax Review Commission, and Chairperson of Hawaii Climate Change Mitigation and Adaptation Commission.

 

 

 

 

OFFERED BY:

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Report Title: 

Tax Review Commission; Study; Climate Change Impacts

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