HI HB1809

Reinstates a renewable fuels production tax credit that was repealed on December 31, 2021, to enhance Hawaii's energy security and self-sufficiency.

Provides an annual tax credit of 20 cents per 76,000 British thermal units (BTU) of renewable fuels sold in Hawaii for taxpayers producing at least 2.5 billion BTU per calendar year, with a maximum 10-year credit period.

Caps total annual tax credits at $30,000,000 statewide; if claims exceed this amount, credits are distributed proportionally among eligible taxpayers based on production volume.

Requires taxpayers to submit third-party certified statements to the Hawaii State Energy Office documenting fuel type, quantity, BTU value, feedstock used, employees, and facility locations within 30 days of calendar year-end.

Allows unused credits to carry forward to subsequent years, with options for low-income individuals and those electing a 30% credit reduction to receive refunds of excess credits.