Hawaii Senate Bill 2737 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 6-0)
Status: Introduced on January 27 2016 - 25% progression, died in committee
Action: 2016-02-17 - The committee on TRE deferred the measure.
Pending: Senate Transportation and Energy Committee
Text: Latest bill text (Introduced) [HTML]

Provides an investment income tax credit for self-generation energy storage used primarily to store energy for the utility customer's own use, that reduces from 30 per cent to 15 per cent over five years. Provides, in lieu of the investment income tax credit, a production income tax credit for energy storage primarily for energy delivered and sold to a third party during the first ten taxable years the energy storage property is in service, that reduces from 8 cents per kilowatt-hour to 4 cents per kilowatt-hour over six years. Requires DOTAX and DBEDT to submit annual reports to the legislature regarding the energy storage income tax credit. Requires DBEDT to complete a study on the impacts and benefits of the tax credit and its contribution to the State reaching its energy goals. Applies to taxable years after 12/31/2015.

Energy Storage Income Tax Credit

Sen. Lorraine Inouye [D]	Sen. Donovan Cruz [D]	Sen. Brickwood Galuteria [D]	Sen. Michelle Kidani [D]
Sen. Clarence Nishihara [D]	Sen. Glenn Wakai [D]

Date	Chamber	Action
2016-02-17	Senate	The committee on TRE deferred the measure.
2016-02-11	Senate	The committee(s) on TRE has scheduled a public hearing on 02-17-16 2:45PM in conference room 225.
2016-02-02	Senate	Re-Referred to TRE, WAM.
2016-01-27	Senate	Referred to TRE/HOU, WAM.
2016-01-27	Senate	Passed First Reading.
2016-01-27	Senate	Introduced.

Type	Source
Summary	http://www.capitol.hawaii.gov/measure_indiv.aspx?billtype=SB&billnumber=2737&year=2016
Text	http://www.capitol.hawaii.gov/session2016/bills/SB2737_.HTM