Hawaii Governor Signs Renewable Fuels Production Tax Credit
July 13, 2016http://biodieselmagazine.com/articles/1368960/hawaii-gov-ige-signs-renewable-fuels-production-tax-credit
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Hawaii Gov. David Ige has recently signed the Renewable Fuels Production Tax Credit by an incentive for biofuel producers in the state. The move strengthens Hawaii's commitment to produce100% of its electricity from renewable resources by 2045.
The signing was also attended by Pacific Biodiesel President Robert King. Currently, Pacific Biodiesel is Hawaii's only commercial biofuel producer. It is also the nation's first biodiesel producer certified by the Sustainable Biodiesel Alliance.
Known as the Hawaii State Act 202, it is a non-refundable tax credit for the production of renewable fuelsand will take effect in 2017. The signed incentive can attract investors to build production facilities in Hawaii, creating more jobs and energy security.
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