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Relating to the Tax Rebate Requirement

Hawaii Ballot Measure - Constitutional Amendment

Election: Nov. 2, 2010 (General)

Outcome: Passed

Categories:

Constitution
Government Budget and Spending
Taxes

Summary

    Proposes a constitutional amendment to article VII, section 6, of the Hawaii Constitution to authorize the Legislature to determine whether excess funds should be used as tax refunds or tax credits to taxpayers of the State or diverted to one or more funds to serve as temporary supplemental sources of funding for the State in times of an emergency, economic downturn, or unforeseen reduction in revenue.

    Measure Text

    Shall the legislature be provided with the choice, when the state general fund balance at the close of each of two successive fiscal years exceeds five per cent of the general fund revenues for each of the two fiscal years, to provide a tax refund or tax credit to the taxpayers of the State, or to make a deposit into one or more funds, as provided by law, which shall serve as temporary supplemental sources of funding for the State in times of an emergency, economic downturn, or unforeseen reduction in revenue?

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