Bill > SB596

This bill establishes a new income tax credit for businesses that purchase electric garbage trucks in Hawaii. Specifically, the bill allows qualified taxpayers (businesses that are compensated for garbage or solid waste transport within the state) to claim a tax credit for each electric garbage truck purchased, defined as a motor vehicle powered by an electric motor using a high-capacity battery or fuel cell. While the exact dollar amount of the credit is not specified in the bill text (marked with $ placeholders), the legislation includes several key provisions: the credit can be applied against the taxpayer's net income tax liability, with any excess credit able to be carried forward to subsequent years; there is a total annual cap on the credits that can be issued statewide; partnerships, S corporations, estates, and trusts can also claim the credit at the entity level; and taxpayers must file claims for the credit by the end of the twelfth month following the close of the taxable year. The tax credit will apply to taxable years beginning after December 31, 2024, giving businesses a financial incentive to transition to more environmentally friendly waste management vehicles.

Budget and Finance, Transportation and Infrastructure

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=596&year=2025