THE SENATE

S.B. NO.

199

TWENTY-SIXTH LEGISLATURE, 2011

S.D. 2

STATE OF HAWAII

H.D. 1

 

 

 

 

 

A BILL FOR AN ACT

 

 

RELATING TO RENEWABLE ENERGY.

 

 

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

 


SECTION 1.  The purpose of this Act is to require, under certain conditions, the reimbursement to the general fund from a non-general fund of the renewable energy technologies income tax credit claimed by a taxpayer.

     SECTION 2.  Chapter 36, Hawaii Revised Statutes, is amended by adding a new section to part II to be appropriately designated and to read as follows:

     "36-     Transfer from a non-general fund for renewable energy technologies income tax credit.  (a)  For the purpose of this section:

     "Dwelling unit" means a room or rooms connected together, constituting an independent housekeeping unit for a family and containing a single kitchen.  Two or more essentially separate structures, except for a token connection such as a covered walkway or trellis, shall not constitute a single dwelling unit.

     "Renewable energy technologies income tax credit" or "tax credit" means the income tax credit pursuant to section 235-12.5.

     (b)  The director of finance shall transfer to the general fund, from a non-general fund, a cash amount equivalent to the renewable energy technologies income tax credit claimed by a taxpayer when all of the following conditions exist:

     (1)  The taxpayer has claimed the credit:

(A) Based on a renewable energy technology system installed on real property leased from, owned by, or under the control of a state agency; and

(B) After June 30, 2009;

     (2)  The state agency receives revenues from the lease of the real property, the energy generated by the system, or other arrangement with the taxpayer who has claimed the credit; and

     (3)  The revenues received under paragraph (2) have been deposited into a non-general fund.

     The transfer shall be made from the non-general fund into which the revenues were deposited and deemed a reimbursement of the general fund for a project that benefits the state agency.

     (c)  Except as otherwise provided under subsection (d):

     (1)  If a taxpayer claimed a nonrefundable or refundable tax credit between July 1, 2009, and June 30, 2011, the director of finance shall make the transfer to the general fund from the non-general fund on June 30, 2011;

     (2)  If a taxpayer claims a nonrefundable tax credit after June 30, 2011, the director of finance shall make the transfer to the general fund from the non-general fund within ten days of the end of the calendar year in which the claim is filed with the director of taxation.  Between the end of the calendar year and the transfer deadline, the director of taxation shall notify the director of finance of the dollar amount required to be transferred; and

     (3)  If a taxpayer claims a refundable tax credit after June 30, 2011, the director of finance shall make the transfer to the general fund from the non-general fund within five days of the date the comptroller transmits the refunded credit to the taxpayer.  The comptroller shall notify the director of finance when the comptroller makes the transmittal.

(d)  The director of finance shall not make a transfer of a tax credit amount from a non-general fund to the general fund if the director of taxation disallows the claim for the tax credit; provided that if the director of taxation disallows a claim after the transfer of the tax credit amount from a non-general fund to the general fund, the director of finance shall reimburse that non-general fund from the general fund.

     (e)  This section shall not apply when:

     (1)  The taxpayer who claims the tax credit is an individual occupant of a dwelling unit leased by a state agency; and

     (2)  The renewable energy technology system for which the tax credit is claimed serves only that dwelling unit.

(f)  This section shall also not apply if the non-general fund is a federal fund and federal law prohibits transferring moneys from the non-general fund to the general fund in accordance with this section.

(g)  If a federal or state law is construed by the attorney general as prohibiting a transfer from a state non-general fund to the general fund in accordance with this section, the state agency shall not enter into any agreement, after the effective date of Act   , Session Laws of Hawaii 2011, under which a taxpayer may claim a renewable energy technologies income tax credit based on a system installed and placed in use on real property owned or controlled by a state agency."
SECTION 3.  New statutory material is underscored.

SECTION 4.  This Act shall take effect on June 30, 2011, and shall apply to income tax credits claimed pursuant to section 235-12.5, Hawaii Revised Statutes, after June 30, 2009.



 

Report Title:

Renewable Energy Technologies Income Tax Credit; Reimbursement

 

Description:

Requires, under certain conditions, the reimbursement to the general fund from a non-general fund of the Renewable Energy Technologies Income Tax Credit claimed by a taxpayer. Effective June 30, 2011. (SB199 HD1)

 

 

 

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.