summary
Introduced
01/19/2024
01/19/2024
In Committee
02/16/2024
02/16/2024
Crossed Over
Passed
Dead
05/03/2024
05/03/2024
Introduced Session
2024 Regular Session
Bill Summary
Establishes a tax credit for the import of renewable fuel, including sustainable aviation fuel. Expands the provisions of the renewable fuels production tax credit. (SD1)
AI Summary
This bill establishes a temporary tax credit for the import of renewable fuel, including sustainable aviation fuel, consumed in Hawaii. It also expands the existing renewable fuels production tax credit by increasing the credit amount, raising the annual credit cap, and allowing taxpayers who previously claimed the credit to be eligible for tax years beginning after December 31, 2024. The bill aims to advance Hawaii's commitment to reducing greenhouse gas emissions by incentivizing the production and use of renewable fuels in the state.
Committee Categories
Agriculture and Natural Resources, Budget and Finance
Sponsors (1)
Last Action
Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM. (on 02/16/2024)
Bill Topics
Energy
- ‐ Alternative and Renewable Energy
Macroeconomics
- ‐ Taxation, Tax Policy, and Tax Reform
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location | Created |
|---|---|---|
| State Bill Page | https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=2574&year=2024 | 01/19/2024 |
| BillText | https://www.capitol.hawaii.gov/sessions/session2024/bills/SB2574_SD1_.HTM | 02/16/2024 |
| BillText | https://www.capitol.hawaii.gov/sessions/session2024/bills/SB2574_.HTM | 01/19/2024 |
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