SB 419: Hydrogen fuel.

This bill creates an exemption from state sales and use tax for the sale, storage, use, or consumption of hydrogen fuel in the state, effective July 1, 2026. The exemption does not apply to local sales and use taxes or transactions and use taxes. The bill also ensures that the exemption does not affect state sales and use tax rates dedicated for local government funding. Additionally, the bill requires the inclusion of specific goals, purposes, and objectives, detailed performance indicators, and data collection requirements for any new tax expenditure.