HI HB1052

Establishes the Climate Impact Special Fund administered by the Hawaii Climate Change Mitigation and Adaptation Commission to receive appropriations, fees, grants, donations, and investment earnings for climate action.

Allocates 5 cents per barrel from the Environmental Response, Energy, and Food Security Tax to the Climate Impact Special Fund (in addition to existing allocations to other funds).

Appropriates $100,000,000 from general revenues to the Climate Impact Special Fund for fiscal year 2023-2024.

Appropriates $80,000,000 from the Climate Impact Special Fund for operations of the Hawaii Climate Change Mitigation and Adaptation Commission and $20,000,000 for the Sea Level Rise Voluntary Relocation Fund in fiscal year 2023-2024.

Funds will support nature-based solutions, carbon sequestration, renewable energy, vehicle electrification, sea level rise planning and adaptation, managed retreat, climate education, and other climate mitigation and adaptation activities deemed appropriate by the commission.