STAND. COM. REP. NO. 3345
RE: S.B. No. 2820
Honorable Ronald D. Kouchi
President of the Senate
Thirtieth State Legislature
Regular Session of 2020
State of Hawaii
Your Committee on Ways and Means, to which was referred S.B. No. 2820, S.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO RENEWABLE ENERGY,"
begs leave to report as follows:
The purpose and intent of this measure is to increase the cap amount of the renewable energy technologies income tax credit for multi-family residential property solar energy systems from $350 to $750.
Your Committee received written comments in support of this measure from 350Hawaii.org, Climate Protectors Coalition, Hawaii Solar Energy Association, Adon Renewables, and twenty-five individuals.
Your Committee received written comments on this measure from the Department of Taxation, Hawaii State Energy Office, and Tax Foundation of Hawaii.
Your Committee finds that in Hawaii the cost of living is among the highest in the nation, and that electricity prices contribute to that high cost. Your Committee notes that there has been no increase in the tax credit cap amount for photovoltaic systems for multi-family residential properties since the credit was established in 2003. Your Committee believes that it is appropriate for multi-family residential properties to benefit from increased tax credit cap amounts that are equally proportionate to increases in the tax credit cap amount that have been afforded to single family and commercial properties.
Your Committee has amended this measure by:
(1) Changing the effective date to July 1, 2050, to facilitate further discussion on the measure; and
(2) Making technical nonsubstantive changes for purposes of clarity, consistency, and style.
As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2820, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2820, S.D. 2.
Respectfully submitted on behalf of the members of the Committee on Ways and Means,
DONOVAN M. DELA CRUZ, Chair