Hawaii HB976 amends tax credits for renewable fuels and sustainable aviation fuel to support local production and reduce greenhouse gas emissions.
Hawaii HB976 establishes a sustainable aviation fuel import tax credit and increases the renewable fuels production tax credit to support local production and reduce greenhouse gas emissions. The bill mandates that the Hawaii state energy office issue certificates for credits claimed and requires taxpayers to submit detailed statements on fuel production and emissions. It also repeals certain restrictions on claiming tax credits for renewable fuels. The changes apply to taxable years beginning after December 31, 2024.
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