Bill > SB1629

This bill enhances Hawaii's film and digital media production tax credit system by increasing the existing tax credit and creating new incentives for film productions. Specifically, the bill introduces a new five percent tax credit for productions that utilize qualified production facilities within the state, bringing the total potential tax credit to either 22% or 27% depending on the county's population. The bill defines a "qualified production facility" as a new production complex built after 2024 on at least 7-10 acres of government-leased land, with a minimum construction cost of $100 million. Additionally, the legislation exempts motion picture project employers from general excise tax on reimbursements for employee wages, salaries, payroll taxes, and benefits. The bill aims to attract more film and digital media productions to Hawaii, support workforce development in the industry, and encourage private investment in production infrastructure. While the specific dollar amounts for the total tax credit cap are left blank in the bill text, the legislation is designed to create a more favorable economic environment for film and media production in Hawaii, with provisions taking effect between 2025 and 2050.