HB 339 Hawaii House · 2026 Regular Session

RELATING TO ELECTRIC UTILITIES.

Summary

Part I: Requires the Public Utilities Commission to impose certain conditions of approval on any order approving, in whole or in part, an application for the proposed acquisition, merger, or consolidation of an electric utility company by an acquiring entity. Establishes a process to ensure that when an electric utility is subject to an application for a proposed acquisition, merger, or consolidation by a potential acquiring entity that is an investor-owned utility and seeks approval of the application from the Public Utilities Commission, it must demonstrate that it solicited bids from potential acquiring entities that operate under a non-investor-owned utility ownership model. Requires the electric utility to submit those acceptable bids concurrently with an application by a potential acquiring entity that is an investor-owned utility. Part II: Authorizes the issuance of reimbursable GO bonds for acquiring Hawaiian Electric Industries and converting it to a publicly owned utility. Authorizes the establishment of a non-bypassable electric utility conversion charge, to be deposited into the new Electric Utility Conversion Special Fund. Appropriates Funds. Effective 7/1/3000. (HD2)

Bill status passed 3 of 5 stages cleared

Introduction

Jan 2025

Committee Review

Feb 2025

House Passage

Feb 2025

Senate Passage

Governor

Introduced Jan 16, 2025 Last action Dec 8, 2025

Maddy AI version diff · 2 comparisons

What changed between versions

HB339_HD1 → HB339_HD2 · 5 edits

MODERATE

The bill was expanded from a regulatory framework governing utility acquisitions to include a full plan to nationalize Hawaiian Electric Industries. The new version authorizes the state to issue $1 billion in bonds, establish a special conversion fund, and create a new charge on customers to finance the purchase and conversion of the utility to public ownership.

Scope change

The bill's scope expanded significantly from regulating the terms of utility mergers to directly authorizing the state government to acquire an existing investor-owned utility and convert it to a publicly owned entity.

FISCAL

Authorized the issuance of $1 billion in reimbursable general obligation bonds to finance the acquisition of Hawaiian Electric Industries.

Created a new 'electric utility conversion special fund' to manage bond proceeds and a new nonbypassable conversion charge on customers to repay the debt.

REQUIREMENT

Added a mandate to acquire Hawaiian Electric Industries and convert it to a publicly owned utility, replacing the previous focus on regulating acquisition conditions.

Replaced specific prohibitions on reducing renewable energy standards with a general requirement for the acquiring entity to assume existing renewable portfolio standards.

DEFINITION

Added new definitions for 'publicly owned electric utility' and 'electric utility conversion charge' to support the acquisition plan.

Floor votes

How they voted

This bill passed the House by voice vote (no roll call recorded).

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 14, 2025

Lower · Passed

Report adopted; referred to the committee(s) on FIN as amended in HD 2 with Representative(s) Amato, Pierick voting aye with reservations; none voting no (0) and Representative(s) Cochran, Matayoshi, Poepoe, Ward excused (4).

lower

Feb 14, 2025

Committee

Reported from CPC (Stand. Com. Rep. No. 780) as amended in HD 2, recommending referral to FIN.

lower

Feb 13, 2025

Lower · Passed

The committee on CPC recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 9 Ayes: Representative(s) Matayoshi, Chun, Ilagan, Ichiyama, Kong, Lowen, Marten, Tam; Ayes with reservations: Representative(s) Iwamoto; Noes: none; and 1 Excused: Representative(s) Pierick.

lower

Feb 4, 2025

Committee

Reported from EEP (Stand. Com. Rep. No. 90) as amended in HD 1, recommending passage on Second Reading and referral to CPC.

lower

Jan 28, 2025

Lower · Passed

The committee on EEP recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 4 Ayes: Representative(s) Lowen, Perruso, Kahaloa, Kusch; Ayes with reservations: none; 0 Noes: none; and 2 Excused: Representative(s) Quinlan, Ward.

lower

Jan 21, 2025

Committee

Referred to EEP, CPC, FIN, referral sheet 1

lower

Jan 17, 2025

Introduced

Introduced and Pass First Reading.

lower

Jan 16, 2025

Introduced

Pending introduction.

lower

1 primary · 0 co-sponsors