HB 1850 Summary

• Authorizes the chief energy officer to enter into public-private partnerships with established not-for-profit entities in Hawaii to administer expenditures from the energy security special fund for clean energy and sustainability projects.

• Increases the allocation of the state environmental response, energy, and food security tax dedicated to the energy security special fund from 5 cents to 15 cents per barrel of petroleum product.

• Requires the not-for-profit partners to have established offices in Hawaii and support commercialization of technologies that advance Hawaii's clean energy goals and benefit the economy.

• Maintains the requirement that the Department of Business, Economic Development, and Tourism submit regular reports to the legislature detailing spending plans, expenditures, and targeted markets for energy security special fund allocations.

• Effective date: July 1, 2050.