Bill > SB2332

This bill aims to address climate change and support local agriculture by gradually increasing taxes on fossil fuels and providing financial relief to residents through a carbon cashback program. Specifically, it reestablishes the Agricultural Development and Food Security Special Fund, which will support farmers with grants, land acquisition, infrastructure improvements, equipment purchases, research, and marketing to boost local food production and reduce reliance on imports. It also creates a new Carbon Emissions Tax and Dividend Special Fund to manage revenues from these increased taxes. The core of the bill is the establishment of a refundable carbon cashback tax credit, which will be distributed to most taxpayers to offset the increased costs of fossil fuels, with the credit amounts adjusted annually based on tax revenues collected. The bill also mandates reports to the Legislature on the implementation and effectiveness of these programs and appropriates funds for the administration of the carbon cashback program.

Agriculture and Natural Resources

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=2332&year=2026