SB 2376: RENEWABLE FUELS PRODUCTION TAX CREDIT; RENEWABLE FUELS PRODUCTION

Session Year: 2025-2026
House: Senate
Latest Version Date: 2026-03-04

Current Status:

In Progress

(2026-03-02: The committee(s) on WAM recommend(s) that the measure be PASSED, WITH AMENDMENTS. The votes in WAM were as follows: 13 Aye(s): Senator(s) Dela Cruz, Moriwaki, DeCoite, Elefante, Hashimoto, Inouye, Kanuha, Kidani, Kim, Lee, C., Richards, Wakai, Fevella; Aye(s) with reservations: none ; 0 No(es): none; and 0 Excused: none.)

Introduced

First Committee Review

First Chamber

Second Committee Review

Second Chamber

Final Decking

Enacted

Version:

Clarifies that the Renewable Fuels Production Tax Credit shall only be claimed by taxpayers for which qualified renewable fuels production costs are incurred within the State and sold for distribution within the State. Allows taxpayers to be eligible for a separate 10-year credit period for each separate qualified renewable fuels production that independently meets eligibility requirements. Extends the time frame for taxpayers to file certain statements with the Hawaii State Energy Office. Applies to taxable years beginning after 12/31/2026. Effective 4/19/2042. (SD2)

Discussed in Hearing