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HI SB3077

Bill

Official Source

Status

Passed

7/10/2018

Primary Sponsor

Lorraine Inouye

Click for details

Origin

Senate

2018 Regular Session

AI Summary

  • Lowers the production threshold for the renewable fuels production tax credit from 15 billion British thermal units (BTU) to 2.5 billion BTU per calendar year
  • Expands eligible renewable fuel types to include logs, wood chips, wood pellets, wood bark, renewable jet fuel, and renewable gasoline, in addition to existing fuel types
  • Maintains the tax credit structure at 20 cents per 76,000 BTU of renewable fuels sold in Hawaii, with a maximum annual cap of $3,000,000 per taxpayer
  • Applies to taxable years beginning after December 31, 2017
  • Aims to advance Hawaii's clean energy goals, support local job creation in energy and agriculture, and increase energy security through expanded biofuel production

Legislative Description

Relating To Biofuels.

Renewable Fuel Tax Credit

Last Action

Act 143, on 07/05/2018 (Gov. Msg. No. 1244).

7/10/2018

Committee Referrals

Finance3/20/2018
Energy & Environmental Protection3/8/2018
Ways and Means2/15/2018
Transportation and Energy1/26/2018

Full Bill Text

No bill text available