Hawaii HB1295 requires state and county agencies to use federal clean energy tax credits for clean energy projects and zero-emission vehicles.

Hawaii HB1295 mandates that state and county agencies use federal clean energy tax credits under the Inflation Reduction Act of 2022 for capital improvement projects utilizing clean energy technology and zero-emission vehicles. This Act aims to level the playing field for tax-exempt and governmental entities by allowing them to claim tax benefits historically available only to private developers. The tax credits, known as "elective pay" or "direct pay," become effective July 1, 2025.

Hawaii HB1295 requires state and county agencies to use federal clean energy tax credits for clean energy projects and zero-emission vehicles.

Hawaii HB1295 mandates that state and county agencies use federal clean energy tax credits under the Inflation Reduction Act of 2022 for capital improvement projects utilizing clean energy technology and zero-emission vehicles. This Act aims to level the playing field for tax-exempt and governmental entities by allowing them to claim tax benefits historically available only to private developers. The tax credits, known as "elective pay" or "direct pay," become effective July 1, 2025.