What steps are being taken to diversify Hawaiʻi’s economy and support local business?

Permits the Department of Labor and Industrial Relations to enter into contracts with eligible employers or registered apprenticeship programs in the private sector to provide on-the-job training to eligible interns. Establishes a state internship and workforce development program. Requires the Department of Labor and Industrial Relations to collaborate with the Department of Human Resources Development for placement of interns in state executive branch departments, agencies, and programs. Provides that the State shall be the responsible employer for purposes of workers' compensation coverage for students or recent graduates in the on-the-job-training work experience program, subject to certain limitations. Appropriates funds. (CD1)

Expands the powers of the Hawaiʻi Property Insurance Association and reactivates the Hawaiʻi Hurricane Relief Fund to help stabilize the property insurance market in the State. Establishes the Condominium Loan Program and the Condominium Loan Revolving Fund, to be administered by the Hawaiʻi Green Infrastructure Authority on behalf of the Department of Business, Economic Development, and Tourism, for the purpose of providing financing for essential repairs and deferred maintenance to condominium associations. Abolishes the Condominium Loan Revolving Fund on 6/30/2047. Establishes the Condominium Loan Loss Reserves Program to incentivize lenders to provide loans at competitive rates and terms to allow condominium associations to make necessary maintenance and repairs. Requires the Insurance Commissioner to conduct a study to develop long-term solutions to help stabilize the property insurance market in the State. Requires reports to the Legislature. Authorizes the issuance of reimbursable general obligation bonds to facilitate the initial issuance of policies to condominium associations. Appropriates funds. (CD1)

Requires that income tax credits existing on 12/31/2025 or established or renewed after 12/31/2025 include a 5-year sunset or an annual one-third reduction, beginning with the 6th year of the credit. (CD1)

Requires the Public Utilities Commission to establish an installation goal for customer-sited distributed energy resources in the State. Requires the Public Utilities Commission to establish tariffs to achieve the installation goal and for grid services programs, microgrids, and community-based renewable energy. Ensures that certain levels of compensation are provided for solar and energy storage exports from customer-sited distributed energy resources as part of grid service programs and requires the Public Utilities Commission to establish grid service compensation values. Clarifies when a person who constructs, maintains, or operates a new microgrid is not considered a public utility. Authorizes wheeling of renewable energy and requires the Public Utilities Commission to establish policies and procedures to implement wheeling and microgrid service tariffs. (CD1)