Bill > HB2767

This bill updates the Renewable Fuels Production Tax Credit to incentivize the local production and sale of renewable fuel in the State of Hawaii. It extends the credit period, amends the total amount of tax credits allowed per year, and resets credits claimed for taxable years beginning after December 31, 2023. The bill also introduces additional credits for renewable fuels produced from locally grown or recycled feedstock, as well as for the production of sustainable aviation fuel. The bill aims to ensure a sustainable supply of locally sourced, firm renewable energy to help electric utility companies meet the state's renewable portfolio standards.