STAND. COM. REP. NO. 552-18

 

Honolulu, Hawaii

, 2018

 

RE: H.B. No. 1986

H.D. 2

 

 

 

 

Honorable Scott K. Saiki

Speaker, House of Representatives

Twenty-Ninth State Legislature

Regular Session of 2018

State of Hawaii

 

Sir:

 

Your Committee on Consumer Protection & Commerce, to which was referred H.B. No. 1986, H.D. 1, entitled:

 

"A BILL FOR AN ACT RELATING TO THE ENVIRONMENT,"

 

begs leave to report as follows:

 

The purpose of this measure is to incentivize and reward the adoption, practice, and adherence to carbon emission reduction activities, consistent with the Hawaii 2050 Sustainability Plan, by creating a program under the Department of Business, Economic Development and Tourism that allows state agencies and other interested parties to acquire carbon offset credits that may be exchanged and the resulting proceeds be invested to improve the State's water infrastructure.

 

The Department of Business, Economic Development and Tourism, Office of Planning, Hawaii Island Economic Development Board, The Nature Conservancy of Hawaii, Oahu County Committee on Legislative Priorities of the Democratic Party of Hawaii, Sierra Club of Hawaii, Ulupono Initiative, and several individuals testified in support of this measure. The Department of Land and Natural Resources, Hawaii Farm Bureau, Life of the Land, and an individual provided comments.
Your Committee has amended this measure by:

 

(1) Changing the name of the Carbon Offset Program to Carbon Credit Revenue Program;

 

(2) Requiring that the Carbon Credit Revenue Program administer revenues realized from the sale of any carbon credits;

 

(3) Allowing the Carbon Credit Revenue Program to recognize carbon credits from established international or national carbon registries instead of requiring the creation of carbon credits;

 

(4) Deleting definitions of "carbon offset credit" and "emissions";

 

(5) Adding definitions for "carbon credit," "carbon credit revenue," and "carbon registry"; and

 

(6) Making technical, nonsubstantive amendments for clarity, consistency, and style.

 

As affirmed by the record of votes of the members of your Committee on Consumer Protection & Commerce that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 1986, H.D. 1, as amended herein, and recommends that it be referred to your Committee on Finance in the form attached hereto as H.B. No. 1986, H.D. 2.

 

 

Respectfully submitted on behalf of the members of the Committee on Consumer Protection & Commerce,

 

 

 

 

____________________________

ROY M. TAKUMI, Chair