SB633

Hawaii SB633 establishes a carbon cashback program to reduce greenhouse gas emissions and provide financial relief to residents.

Hawaii SB633 aims to reduce greenhouse gas emissions and provide financial relief to residents by implementing a carbon cashback program. The bill amends the environmental response, energy, and food security tax to tax fossil fuels based on their emissions. It also establishes a refundable tax credit to offset the tax for lower-income taxpayers. The bill creates the carbon emissions tax and dividend special fund to manage the tax revenues. Reports on the program's implementation and effectiveness are required to be submitted to the legislature.