HB760

Establishes a carbon emissions tax and a carbon cashback program to reduce greenhouse gas emissions and provide financial relief to lower-income.

This bill establishes a carbon emissions tax on fossil fuels to reduce greenhouse gas emissions and create funding for environmental response, energy security, and agricultural development. The tax will increase annually from 2026 to 2036. A portion of the tax revenue will be used to fund a carbon cashback program, providing refundable tax credits to lower-income taxpayers to offset the impact of the tax. The bill also reenacts the agricultural development and food security special fund to support agricultural production and food security in Hawaii.