Loading chat...
HI HB2511
Bill
Status
1/27/2016
Primary Sponsor
Justin Woodson
Click for details
AI Summary
-
Aligns Hawaii's renewable energy tax credit with federal Internal Revenue Code sections 48 and 25 to conform state law with current federal renewable energy tax credits.
-
Replaces specific tax credit percentages and dollar caps for solar and wind systems with a framework referencing federal "energy property" definitions and regulations.
-
Expands eligible technologies beyond solar and wind to include broader energy storage and other renewable energy systems meeting federal energy property standards.
-
Changes the effective date of the tax credit from July 1, 2009 to July 1, 2017, applying to taxable years beginning after December 31, 2016.
-
Removes specific cap amounts previously set at $5,000 for residential solar systems and $500,000 for commercial systems, allowing federal definitions to determine eligibility and credit amounts.
Legislative Description
Renewable Energy; Solar and Wind Energy Property; Tax Credit
Last Action
Passed Second Reading as amended in HD 1 and referred to the committee(s) on CPC with Representative(s) Jordan voting aye with reservations; none voting no (0) and Representative(s) Tokioka excused (1).
2/12/2016