| Measure Title: |
RELATING TO RENEWABLE FUEL.
|
| Report Title: |
Sustainable Aviation Fuel Import Tax Credit; Renewable Fuels Production Tax Credit
|
| Description: |
Establishes the sustainable aviation fuel import tax credit. Increases the renewable fuels production tax credit amount. Repeals the: (1) cap amount of claimable renewable fuels production tax credit; (2) requirement that the tax credit be claimed for fuels with lifecycle emissions below fossil fuels; and (3) prohibition on claiming other tax credits for the cost incurred to produce renewable fuels. Specifies that the renewable fuels production tax credit can only be claimed for fuels that meet the certain thresholds. Adds an additional tax credit value. Clarifies that a taxpayer who previously claimed a renewable fuels production tax credit may claim another one for taxable years beginning after 12/31/2024. Clarifies and expands required information in the certified statement for the tax credit. Repeals the requirement that the Hawaii State Energy Office provide the taxpayer with a determination of whether the lifecycle greenhouse gas emissions for each type of qualified fuel produced is lower than that of fossil fuels.
|
| Companion: |
HB976
|
| Package: |
None
|
| Current Referral: |
EIG/AEN, WAM
|
| Introducer(s): |
WAKAI, CHANG, GABBARD, KANUHA, KEOHOKALOLE, MCKELVEY, Hashimoto
|
| Act: |
|
| Sort by Date | | Status Text |
| 1/29/2025 | S | The committee on AEN deferred the measure. |
| 1/29/2025 | S | The committee on EIG deferred the measure. |
| 1/24/2025 | S | The committee(s) on EIG/AEN has scheduled a public hearing on 01-29-25 1:00PM; Conference Room 224 & Videoconference. |
| 1/23/2025 | S | Referred to EIG/AEN, WAM. |
| 1/21/2025 | S | Passed First Reading. |
| 1/17/2025 | S | Introduced. |
S = Senate |
H = House |
D = Data Systems |
$ = Appropriation measure |
ConAm = Constitutional Amendment
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SB995