Hawaii SB995 establishes a tax credit for sustainable aviation fuel imports and increases the renewable fuels production tax credit.

Hawaii SB995 aims to reduce greenhouse gas emissions by establishing a sustainable aviation fuel import tax credit and increasing the renewable fuels production tax credit. The bill introduces a tax credit of $1 per gallon for sustainable aviation fuel imported into Hawaii, provided it meets specific lifecycle greenhouse gas emissions and transportation emissions thresholds. Additionally, the bill increases the renewable fuels production tax credit to 35 cents per 76,000 British thermal units of renewable fuels sold in the state.

Hawaii SB995 establishes a tax credit for sustainable aviation fuel imports and increases the renewable fuels production tax credit.

Hawaii SB995 aims to reduce greenhouse gas emissions by establishing a sustainable aviation fuel import tax credit and increasing the renewable fuels production tax credit. The bill introduces a tax credit of $1 per gallon for sustainable aviation fuel imported into Hawaii, provided it meets specific lifecycle greenhouse gas emissions and transportation emissions thresholds. Additionally, the bill increases the renewable fuels production tax credit to 35 cents per 76,000 British thermal units of renewable fuels sold in the state.