HI HB240

Adds seawater air conditioning district cooling systems to the definition of "service business" under Hawaii's enterprise zone program, making them eligible for state enterprise zone benefits.

Defines "seawater air conditioning district cooling system" as an air conditioning cooling project where at least 50 percent of the energy required is provided by cold, deep seawater.

Identifies the twenty-five-thousand-ton seawater air conditioning system under development for downtown Honolulu as capable of reducing Oahu's dependence on imported oil.

Recognizes the project's potential to generate millions in construction spending and create long-term employment while keeping money in Hawaii rather than exporting funds for oil purchases.

Takes effect upon approval.