Bill > SB1574

This bill modifies the Motion Picture, Digital Media, and Film Production Income Tax Credit in Hawaii by increasing tax credit percentages for qualified productions based on county population, clarifying tax credit distribution rules, and expanding the types of productions and costs that qualify. Specifically, the bill increases the tax credit from 22% to 25% for counties with over 700,000 residents and from 27% to 30% for counties with fewer than 700,000 residents. The bill raises the per-production tax credit cap from $17 million to $20 million and increases the total annual tax credit allowed from $50 million to $100 million. Additionally, the bill expands the definition of "qualified production" to include print campaigns and film studio facility construction, and broadens the types of qualified production costs to include planning, development, and construction costs for film studios. The bill also updates definitions of terms like "commercial," "digital media," and "production" to reflect modern media practices. These changes aim to make Hawaii more attractive for film and media production by offering more generous tax incentives. The bill will apply to taxable years beginning after December 31, 2024.

Business and Industry

https://www.capitol.hawaii.gov/session/measure_indiv.aspx?billtype=SB&billnumber=1574&year=2026