SUBJECT: GENERAL EXCISE, INCOME, USE, Exemptions/Credits for Clean Energy
BILL NUMBER: HB 629
INTRODUCED BY: YAMANE, CULLEN, ITO, KONG, C. LEE, SAIKI, SAY, SOUKI, Choy, Yamashita
EXECUTIVE SUMMARY: Exempts personal income tax income and general excise tax income in an amount up to an unspecified percentage of the costs of construction and operation of projects entered into under a public-private partnership with the ERS to improve water infrastructure or water supply, or to promote clean energy. Authorizes ERS investments in such public-private partnerships. This strategy dodges procurement laws and budgeting, increases risk to ERS assets, and may even be prohibited by ERISA.
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