Establishes a carbon cashback program in Hawaii to reduce fossil fuel imports and greenhouse gas emissions.

This bill establishes a carbon cashback program in Hawaii. It increases the environmental response, energy, carbon emissions, and food security tax on fossil fuels and petroleum products to reduce fossil fuel imports and greenhouse gas emissions. Most of the new tax revenues will be distributed as refundable income tax credits to taxpayers. The tax on petroleum products will gradually increase from $5.25 per barrel in 2027 to $43.05 per barrel in 2036.

Establishes a carbon cashback program in Hawaii to reduce fossil fuel imports and greenhouse gas emissions.

This bill establishes a carbon cashback program in Hawaii. It increases the environmental response, energy, carbon emissions, and food security tax on fossil fuels and petroleum products to reduce fossil fuel imports and greenhouse gas emissions. Most of the new tax revenues will be distributed as refundable income tax credits to taxpayers. The tax on petroleum products will gradually increase from $5.25 per barrel in 2027 to $43.05 per barrel in 2036.