THE SENATE	S.B. NO.	2675
TWENTY-FIFTH LEGISLATURE, 2010
STATE OF HAWAII

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 exempt renewable energy projects of two megawatts or more from the general excise tax for a period of five years to encourage the expedited construction of these facilities.

     SECTION 2.  Chapter 237, Hawaii Revised Statutes, is amended by adding a new section to be appropriately designated and to read as follows:

     "§237-    Exemption of sale or lease of renewable energy systems.  (a)  Beginning January 1, 2011, and expiring December 31, 2015, there shall be exempted from the general excise tax imposed by this chapter the gross proceeds arising from the sale, installation, servicing, and leasing of a renewable energy system.

     (b)  As used in this section:

     "Renewable energy system" means a system that produces at least two megawatts of electrical power or 500,000 gallons of liquid fuels from one or more sources of renewable energy, as defined in section 269-91.

     (c)  The exemption shall not apply to gross proceeds associated with the preparation of plans, designs or permitting associated with the renewable energy system."

     SECTION 3.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 4.  This Act shall take effect upon its approval.

 

INTRODUCED BY:	_____________________________
	By Request

 

 

Report Title:

Renewable Energy Systems; Exemption From General Excise Tax

 

Description:

Exempts renewable energy systems of two megawatts or greater from the general excise tax on wholesale and retail transactions from January 1, 2011, to December 31, 2015.

 

 

 

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