STAND.
COM. REP. NO. 1293-24
Honolulu, Hawaii
, 2024
RE: S.B. No. 2770
H.D. 1
Honorable Scott K. Saiki
Speaker, House of Representatives
Thirty-Second State Legislature
Regular Session of 2024
State of Hawaii
Sir:
Your Committee on Consumer Protection & Commerce, to which was referred S.B. No. 2770, H.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO RENEWABLE ENERGY,"
begs leave to report as follows:
The purpose of this measure is to authorize the counties to establish an opt-in program that allows an annual payment in lieu of real property taxes for land or improvements that produce or store renewable energy sold to an electric utility.
Your Committee finds
that Act 97, Session Laws of Hawaii 2015, established a one hundred percent
renewable portfolio standard for electric utilities by December 31, 2045, which
requires that all net electricity sales be from renewable energy sources. Your Committee further finds that several
renewable energy projects have faced drastic property tax increases, which have
impacted the financial viability of those projects and created uncertainty for
future renewable energy projects. This
measure will provide more certainty for developers of renewable energy projects
by allowing the counties to establish opt-in programs for in-lieu payments of
real property taxes.
As affirmed by the record of votes of the members of your Committee on Consumer Protection & Commerce that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2770, H.D. 1, and recommends that it be referred to your Committee on Finance.
Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,
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____________________________ MARK M. NAKASHIMA, Chair |
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