Bill Text: HI HB2685 | 2024 | Regular Session | Introduced
Bill Title: Relating To Energy.
Spectrum: Partisan Bill (Democrat 5-0)
Status: (Passed) 2024-05-31 - Act 040, 05/30/2024 (Gov. Msg. No. 1140). [HB2685 Detail]
Download: Hawaii-2024-HB2685-Introduced.html
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HOUSE OF REPRESENTATIVES |
H.B. NO. |
2685 |
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THIRTY-SECOND LEGISLATURE, 2024 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to energy.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Chapter 196, Hawaii Revised Statutes, is amended by adding a new part to be appropriately designated and to read as follows:
"Part . solar hui program
§196-A Definitions. As used in this part, unless the context otherwise requires:
"Authority" means the Hawaii green infrastructure authority as established under section 196-63.
"Low- and moderate-income household" means a household with income equal to or less than one hundred forty per cent of the area median income as determined by the United States Department of Housing and Urban Development.
"Solar energy system" means any identifiable facility, equipment, apparatus, or the like that converts solar energy to useful thermal or electrical energy for heating, cooling, or reducing the use of other types of energy that are dependent on fossil fuel for their generation.
§196-B Solar hui program; fund manager. (a) There is established the solar hui program to be administered by the authority. The solar hui program shall provide a multi-family residential property owner the opportunity to invest in the solar hui investment fund established pursuant to section 196-C. Multi-family residential property owners who invest in the solar hui investment fund under the solar hui program may be eligible to receive:
(1) Any tax credit associated with the installation of a solar energy system, subject to the requirements of the tax credit; and
(2) Any income derived from:
(A) Repayment of a loan provided by the solar hui investment fund; or
(B) Generation of energy from an energy project entered into by the fund manager.
(b) There is established within the authority the position of the solar hui program fund manager, which shall be a full-time equivalent position exempt from chapter 76. The solar hui program fund manager shall:
(1) Manage the solar hui program investment fund established pursuant to section 196-C;
(2) Market the solar hui program to multi-family residential property owners; and
(3) Select solar contractors for solar energy projects.
(c) The authority shall adopt rules pursuant to chapter 91 to carry out the purposes of this part.
§196-C Solar hui investment fund. (a) There is established the solar hui investment fund into which shall be deposited the following:
(1) Appropriations by the legislature;
(2) Investments received from multi-family residential property owners;
(3) All other money received for the fund from any other source; and
(4) All income and interest earned or accrued on moneys deposited into the fund.
(b) The solar hui investment fund may be used to:
(1) Provide low-interest loans to low- and moderate-income households to install a solar energy system;
(2) Invest in solar energy projects;
(3) Pay administrative costs of the solar hui program; or
(4) Pay any other costs related to the solar hui program."
SECTION 2. There is appropriated out of the general revenues of the State of Hawaii the sum of $ or so much thereof as may be necessary for fiscal year 2024-2025 for the implementation of the solar hui program, including one-full time equivalent (1.0 FTE) solar hui program fund manager position.
The sum appropriated shall be expended by the Hawaii green infrastructure authority for the purposes of this Act.
SECTION
3. In accordance with section 9 of
article VII of the Hawaii State Constitution and sections 37‑91 and 37‑93,
Hawaii Revised Statutes, the legislature has determined that the appropriations
contained in H.B. No. , will
cause the state general fund expenditure ceiling for fiscal year 2024‑2025
to be exceeded by $
or per cent. In
addition, the appropriation contained in this Act will cause the general fund
expenditure ceiling for fiscal year 2024‑2025 to be further exceeded by
$ or
per cent. The
combined total amount of general fund appropriations contained in only these
two Acts will cause the state general fund expenditure ceiling for fiscal year
2024‑2025 to be exceeded by
$ or
per cent. The
reasons for exceeding the general fund expenditure ceiling are that:
(1) The appropriation made in this Act is necessary to serve the public interest; and
(2) The appropriation made in this Act meets the needs addressed by this Act.
SECTION 4. In codifying the new sections added by section 1 of this Act, the revisor of statutes shall substitute appropriate section numbers for the letters used in designating the new sections in this Act.
SECTION 5. This Act shall take effect on July 1, 2024.
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INTRODUCED BY: |
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Report Title:
Hawaii Green Infrastructure Authority; Solar Hui Program; Solar Hui Investment Fund; Loans; Solar Energy Systems; Appropriation; Expenditure Ceiling
Description:
Establishes the solar hui program to allow multi-family residential property owners to invest into a solar hui investment fund to provide loans to low- and moderate-income households to install solar energy systems. Establishes the solar hui program fund manager position. Appropriates funds.
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
