Establishes a tax credit for sustainable aviation fuel distribution in Hawaii.

The bill establishes a tax credit for the distribution of sustainable aviation fuel in Hawaii. It provides a tax credit of $1 per gallon for sustainable aviation fuel sold for distribution in the state, with an additional two cents per gallon for each subsequent year. The credit is subject to a maximum of $20,000,000 per calendar year and can be carried over for up to five years. The credit is available to taxpayers who meet the lifecycle greenhouse gas emissions reduction threshold.

Establishes a tax credit for sustainable aviation fuel distribution in Hawaii.

The bill establishes a tax credit for the distribution of sustainable aviation fuel in Hawaii. It provides a tax credit of $1 per gallon for sustainable aviation fuel sold for distribution in the state, with an additional two cents per gallon for each subsequent year. The credit is subject to a maximum of $20,000,000 per calendar year and can be carried over for up to five years. The credit is available to taxpayers who meet the lifecycle greenhouse gas emissions reduction threshold.