HB 1019 Summary

• Increases allocation of the environmental response, energy, and food security tax from 15 cents per barrel to 44.75 cents per barrel for the energy security special fund and agricultural development and food security special fund combined.

• Redirects tax revenue to support clean energy and local food production as originally intended by Act 73 (2010), reducing Hawaii's dependence on imported fossil fuels and food.

• Allocates 0.5 cent per barrel of the petroleum tax to fund operations of the climate change task force until June 30, 2013.

• Extends the climate change task force established by Act 20 (2009) from expiration on June 30, 2011 to June 30, 2013, and requires preliminary report by 2012 and final report by 2013.

• Appropriates necessary funds from the environmental response, energy, and food security tax revenues to the office of planning for climate change task force operations in fiscal years 2011-2012 and 2012-2013.