HB 1172 Summary

• Establishes a clean energy and energy efficiency revolving loan fund administered by the Hawaii Green Infrastructure Authority to provide low-cost loans for clean energy investments, including solar systems, energy efficiency measures, electric vehicles, and charging infrastructure.

• Repeals the building energy efficiency revolving loan fund and expands the $50,000,000 state agency sub-fund to allow financing of purchase options under existing power purchase agreements and energy performance contracts, plus electric vehicle conversions.

• Appropriates $50,000,000 from the clean energy and energy efficiency revolving loan fund for fiscal year 2021-2022 for clean energy loans and other authorized uses.

• Transfers administration of the motion picture, digital media, and film production income tax credit from the Department of Business, Economic Development, and Tourism to the Hawaii Green Infrastructure Authority.

• Takes effect July 1, 2021.