HI HB2049

Expands eligible business activities in Hawaii state enterprise zones to include development, production, or energy storage of renewable energy sources.

Adds a new category (5) to eligible business activities that encompasses wind, solar, hydroelectric, biogas, geothermal, ocean thermal, biomass, biofuels, and hydrogen produced from renewable sources.

Maintains existing eligible business activities including manufacturing, wholesale sales, service businesses, agricultural production, processing, and biotechnology research.

Provides state enterprise zone tax incentives and regulatory flexibility to renewable energy businesses to stimulate growth and support Hawaii's renewable energy goals.

Takes effect upon approval.