Hawaii HB1695 expands the renewable fuels production tax credit to incentivize local production of sustainable aviation fuel and other renewable.

Hawaii HB1695 revises the renewable fuels production tax credit to support local production of sustainable aviation fuel and other renewable fuels. The bill defines terms such as "renewable feedstocks," "lifecycle greenhouse gas emissions," and "sustainable aviation fuel." It sets a cap of $20,000,000 per calendar year for the total tax credits issued. The credit is equal to 35 cents per seventy-six thousand British thermal units of renewable fuels sold for distribution in the state. The bill also establishes a single producer cap and a sustainable aviation fuel additional value cap.

Hawaii HB1695 expands the renewable fuels production tax credit to incentivize local production of sustainable aviation fuel and other renewable.

Hawaii HB1695 revises the renewable fuels production tax credit to support local production of sustainable aviation fuel and other renewable fuels. The bill defines terms such as "renewable feedstocks," "lifecycle greenhouse gas emissions," and "sustainable aviation fuel." It sets a cap of $20,000,000 per calendar year for the total tax credits issued. The credit is equal to 35 cents per seventy-six thousand British thermal units of renewable fuels sold for distribution in the state. The bill also establishes a single producer cap and a sustainable aviation fuel additional value cap.