HI HB1468

Repeals chapter 269, part VIII of Hawaii Revised Statutes, which authorized the Public Utilities Commission to establish a regulatory structure for an interisland high-voltage electric transmission undersea cable system.

Removes tax exemptions and regulatory provisions related to cable surcharges previously collected by electric utility companies acting on behalf of certified cable companies.

Amends section 235-7 to delete the tax exemption for cable surcharge amounts received by electric utility companies.

Repeals sections 239-5.6 and 240-1.6 relating to cable surcharge exemptions from gross income and gross receipts taxation.

Becomes effective January 1, 2112.