State Auditor’s review of GET exemptions and exclusions

In 2016, lawmakers came up with a law requiring the state Auditor to review exemptions, exclusions, and credits in the general excise, public service company, and insurance premium taxes. Under the terms of the law, HRS section 23-71, the existing tax benefits on the books were divided into ten chunks, with each chunk to be reviewed every 10 years. The Auditor was supposed to figure out how much each tax benefit costs in terms of lost revenue and determine whether the tax benefit has achieved and continues to achieve the purpose for which it was enacted by the Legislature. The Auditor was supposed to start on the first chunk last year and finish the report before the start of the 2020 Legislature, but there was a delay.