Bill Text: HI SB2764 | 2014 | Regular Session | Introduced
Bill Title: State Enterprise Zones; Renewable Energy; Sustainable Business Corporations
Spectrum: Partisan Bill (Democrat 11-0)
Status: (Introduced - Dead) 2014-02-14 - Report adopted; Passed Second Reading, as amended (SD 1) and referred to WAM. [SB2764 Detail]
Download: Hawaii-2014-SB2764-Introduced.html
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THE SENATE |
S.B. NO. |
2764 |
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TWENTY-SEVENTH LEGISLATURE, 2014 |
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STATE OF HAWAII |
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A BILL FOR AN ACT
relating to state enterprise zones.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. The legislature finds that sustainable business corporations engaged in the development or production of renewable energy will stimulate business, agricultural, and industrial growth in areas that will result in neighborhood revitalization. The addition of other forms of renewable resources to the state enterprise zone program is consistent with the current approved business activities, which presently include wind energy production. State enterprise zone tax incentives and regulatory flexibility will help attract renewable energy businesses and further the State's renewable energy goals.
The purpose of this Act is to expand eligible business activity in the state enterprise zones to include the development or production of various types of renewable energy by sustainable business corporations.
SECTION 2. Section 209E-2, Hawaii Revised Statutes, is amended by amending the definition of "eligible business activity" to read as follows:
""Eligible business activity" means the:
(1) Manufacture of tangible personal property, the wholesale sale of tangible personal property as described in section 237-4, or a service business as defined in this section;
(2) Production of agricultural products where the business is a producer as defined in section 237-5, or the processing of agricultural products, all or some of which were grown within an enterprise zone;
(3) Research, development, sale, or production of all
types of genetically-engineered medical, agricultural, or maritime
biotechnology products; [or]
(4) Production of electric power from wind energy for
sale primarily to a public utility company for resale to the public[.];
or
(5) Development, production, or energy storage by a sustainable business corporation, as defined in section 420D-2, of fuels, thermal energy, or electrical energy from renewable resources, including:
(A) Wind;
(B) The sun;
(C) Falling water;
(D) Biogas, including landfill and sewage-based digester gas;
(E) Geothermal;
(F) Ocean water, currents, and waves, including ocean thermal energy conversion;
(G) Biomass, including biomass crops, agriculture and animal residues and wastes, and solid waste;
(H) Biofuels; and
(I) Hydrogen produced from renewable energy sources."
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.
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INTRODUCED BY: |
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Report Title:
State Enterprise Zones; Renewable Energy; Sustainable Business Corporations
Description:
Expands eligible business activity in the state enterprise zones to include the development of various types of renewable energy by sustainable business corporations, as defined in section 420D-2, Hawaii Revised Statutes.
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
