Bill > SB3360

This bill amends the Renewable Fuels Production Tax Credit in Hawaii by establishing an additional credit for renewable fuels, including sustainable aviation fuels, produced from renewable feedstock locally grown or recycled in the State. It also adjusts the amount of the credit that can be claimed per taxpayer and the lifecycle greenhouse gas emissions level of a renewable fuel to be eligible for the tax credit. Additionally, the bill allows taxpayers who previously claimed the credit to be eligible for the credit during a certain credit period. The bill aims to incentivize the production and use of locally sourced, firm renewable energy to help electric utility companies meet the State's renewable portfolio standards and address environmental concerns.