STAND. COM. REP. NO. 1948-26

Honolulu, Hawaii

, 2026

RE: H.C.R. No. 189

Honorable Nadine K. Nakamura

Speaker, House of Representatives

Thirty-Third State Legislature

Regular Session of 2026

State of Hawaii

Madame:

Your Committee on Finance, to which was referred H.C.R. No. 189 entitled:

"HOUSE CONCURRENT RESOLUTION REQUESTING THE DEPARTMENT OF TAXATION TO CONDUCT A COMPREHENSIVE ANALYSIS OF CORPORATE INCOME REPORTING STRUCTURES, INCLUDING THE TREATMENT OF FOREIGN SUBSIDIARY INCOME, TO INFORM LONG-TERM FISCAL PLANNING,"

begs leave to report as follows:

The purpose of this measure is to request the Department of Taxation to conduct a comprehensive analysis of corporate income reporting structures, including the treatment of foreign, subsidiary income, to inform long-term fiscal planning.

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee concurs with the intent and purpose of H.C.R. No. 189 and recommends its adoption.

Respectfully submitted on behalf of the members of the Committee on Finance,

____________________________

CHRIS TODD, Chair