HI SB2332

Establishes a "carbon cashback" program that gradually increases Hawaii's environmental response, energy, carbon emissions, and food security tax on petroleum products from $5.25 per barrel in 2026 to $43.05 per barrel in 2035, with $1.00 annual increases thereafter

Creates a refundable income tax credit starting in 2026, with initial amounts of $52 for single filers, $104 for joint filers, and $26 per dependent, designed to return most new tax revenues directly to taxpayers

Reestablishes the agricultural development and food security special fund to support grants to farmers, agricultural land acquisition, infrastructure improvements, equipment purchases, and research to reduce food imports

Distributes tax revenues across multiple special funds, including 5 cents per barrel to environmental response, 4 cents to energy security, 15 cents to agricultural development, and $1 million annually to administer the carbon cashback program

Requires the Department of Agriculture and Biosecurity to submit annual reports to the legislature on fund expenditures, targeted markets, and measurable outcomes from agricultural development programs