THE TWENTY-EIGHTH LEGISLATURE
REGULAR SESSION OF 2016
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Senator Lorraine R. Inouye, Chair |
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Senator Mike Gabbard, Vice Chair |
NOTICE OF HEARING
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DATE: |
Tuesday, February 02, 2016 |
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TIME: |
2:50 PM |
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PLACE: |
Conference Room 229 State Capitol 415 South Beretania Street |
A G E N D A
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RELATING TO ENERGY. Restores the amendments made to sections 243-1 and 243-4(a), HRS, which sunsetted on December 31, 2015. Clarifies that naphtha fuel, used in a power-generating facility, is subject to the fuel tax at a rate of 2 cents per gallon, retroactive to January 1, 2016.
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TRE, WAM |
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RELATING TO RENEWABLE ENERGY. Replaces the current renewable energy technology systems tax credit with tax credits for solar energy property and wind energy property. Requires the Department of Taxation and Department of Business, Economic Development, and Tourism to report tax credits claimed under the renewable energy technology tax credit and make recommendations to the legislature.
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TRE, WAM |
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RELATING TO TAXATION. Exempts personal income tax income, general excise tax income, and use tax income in an amount up to an unspecified percentage of the costs of construction and operation of projects entered into under a public-private partnership with the ERS to improve water infrastructure or water supply, or to promote clean energy. Authorizes ERS investments in such public-private partnerships.
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TRE, WAM |
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RELATING TO TAXATION. Establishes a five-year renewable fuels production tax credit and repeals the ethanol facility tax credit. Allows qualifying taxpayers to claim a refundable income tax credit equal to 20 cents per seventy-six thousand British thermal units of renewable fuel, capped at $3,000,000 per taxable year. Caps the credit at $3,000,000 per year in aggregate. Requires DBEDT to certify all tax credits and submit a report regarding the production and sale of renewable fuels to the governor and legislature each year. Directs DOTAX to create forms for the tax credit. Applies to taxable years beginning after December 31, 2016. Repeals the tax credit on 12/31/2021.
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TRE, WAM |
Decision Making to follow, if time permits.
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Testimony may be submitted up to 24 hours prior to the start of the hearing.
FOR AMENDED NOTICES: Measures that have been deleted are stricken through and measures that have been added are underscored. If a measure is both underscored and stricken through, that measure has been deleted from the agenda.
If you require auxiliary aids or services to participate in the public hearing process (i.e. ASL or foreign language interpreter, or wheelchair accessibility), please contact the committee clerk at least 24 hours prior to the hearing so that arrangements can be made.
FOR FURTHER INFORMATION, PLEASE CALL THE COMMITTEE CLERK AT (808)586-8399.
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_____________________________________ Senator Lorraine R. Inouye Chair |
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