HI SB2634

Expands the existing ethanol facility tax credit to include biodiesel, biobutanol, bio-based diesel, bio-based gasoline, and bio-based jet fuel produced from renewable feedstocks, waste materials, algae, fats, oils, and grease.

Requires qualifying biofuel production facilities to be located in Hawaii and use locally grown feedstock for at least 75% of production output.

Increases the annual certified credit cap from $12 million to $20 million and removes the 40 million gallon per year statewide production capacity limit that previously applied to ethanol facilities.

Extends the deadline for facility production commencement from January 1, 2017 to January 1, 2020 to allow more time for capital investment and development.

Redefines nameplate capacity to be determined by the facility owner based on actual production recorded during a consecutive seven-day period multiplied by 52, rather than relying solely on design specifications.