Bill Text: HI SB199 | 2011 | Regular Session | Amended
Bill Title: Renewable Energy Technologies Income Tax Credit; Reimbursement
Spectrum: Partisan Bill (Democrat 6-0)
Status: (Engrossed - Dead) 2011-04-20 - (S) Received notice of appointment of House conferees (Hse. Com. No. 660). [SB199 Detail]
Download: Hawaii-2011-SB199-Amended.html
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THE SENATE |
S.B. NO. |
199 |
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TWENTY-SIXTH LEGISLATURE, 2011 |
S.D. 2 |
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STATE OF HAWAII |
H.D. 1 |
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Proposed |
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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 require, under certain conditions, the reimbursement to the general fund from a non-general fund of the renewable energy technology system tax credit claimed by a person.
SECTION 2. Chapter 36, Hawaii Revised Statutes, is amended by adding a new section to part II to be appropriately designated and to read as follows:
"§36- Transfer from a non-general fund for renewable energy technology system tax credit. (a) For the purpose of this section:
"Dwelling unit" means a room or rooms connected together, constituting an independent housekeeping unit for a family and containing a single kitchen. Two or more essentially separate structures, except for a token connection such as a covered walkway or trellis, do not constitute a single dwelling unit.
"Renewable energy technology system tax credit" means the income tax credit of section 235-12.5.
(b) The director of finance shall transfer to the general fund, from a non-general fund, a cash amount equaling the renewable energy technology system tax credit claimed by a person when all of the following conditions exist:
(1) The person has claimed the credit:
(A) Based on a renewable energy technology system installed on real property leased from, owned by, or under the control of a state agency; and
(B) After June 30, 2009;
(2) The state agency receives revenues from the lease of the real property, the energy generated by the system, or other arrangement with the person who has claimed the credit; and
(3) The revenues have been deposited into the non-general fund.
The transfer shall be made from the non-general fund and deemed a reimbursement of the general fund for a project that benefits the state agency.
(c) Except as otherwise provided under subsection (d):
(1) If a person claimed a nonrefundable or refundable credit between July 1, 2009, and June 30, 2011, the director of finance shall make the transfer to the general fund from the non-general fund on June 30, 2011;
(2) If a person claims a nonrefundable credit after June 30, 2011, the director of finance shall make the transfer to the general fund from the non-general fund within ten days of the end of the calendar year in which the claim is filed with the director of taxation. Between the end of the calendar year and the transfer deadline, the director of taxation shall inform the director of finance of the dollar amount required to be transferred; and
(3) If a person claims a refundable credit after June 30, 2011, the director of finance shall make the transfer to the general fund from the non-general fund within five days of the date the comptroller transmits the refunded credit to the person. The comptroller shall notify the director of finance when the comptroller makes the transmittal.
(d) The director of finance shall not make a transfer of a credit amount from a non-general fund to the general fund if the director of taxation disallows the claim for the credit.
If the director of taxation disallows a claim after the transfer of the credit amount from a non-general fund to the general fund, the director of finance shall reimburse the non-general fund from the general fund.
(e) This section shall not apply when:
(1) The person who claims the credit is:
(A) An individual; and
(B) The occupant of a dwelling unit leased by the person from a state agency; and
(2) The renewable energy technology system for which the credit is claimed serves only that dwelling unit.
(f) This section also shall not apply if the non-general fund is a federal fund and federal law prohibits transferring moneys from the non-general fund to the general fund in accordance with this section.
(g) If a federal or state law is construed by the attorney general as prohibiting a transfer from a state non-general fund to the general fund in accordance with this section, the state agency shall not enter into any agreement, after the effective date of Act , Session Laws of Hawaii 2011, under which a person may claim a renewable energy technology system tax credit based on a system installed and placed in use on real property owned or controlled by the state agency."
SECTION 3. New statutory material is underscored.
SECTION 4. This Act shall take effect upon its approval and shall apply to income tax credits claimed pursuant to section 235-12.5, Hawaii Revised Statutes, after June 30, 2009.
Report Title:
Renewable Energy Technology System Tax Credit; Transfer From Non-General Fund
Description:
Requires, under certain conditions, the transfer to the general fund from a non-general fund of the amount of the renewable energy technology system tax credit claimed by a person. (HD1 Proposed)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
