HB 3023

Abstract

Creates the Hydrogen Fuel Replacement Tax Credit Act. Creates an income tax credit in an amount equal to $1 per kilogram of eligible zero-carbon hydrogen used by the eligible taxpayer during the tax year for which a credit is sought. Provides that the credit shall be increased by $0.15 per kilogram of eligible zero-carbon hydrogen if the eligible taxpayer uses contractors or employs labor at a project location in an equity investment eligible community. Effective immediately.