Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-Second State Legislature

Regular Session of 2004

State of Hawaii

Sir:

Your Committee on Finance, to which was referred S.B. No. 2558, S.D. 2, H.D. 1, entitled:

begs leave to report as follows:

The purpose of this bill is to diversify Hawaii's economy by providing incentives to attract film, video, and sound recording production companies to the State. Among other things, this bill expands the State's current tax incentive packages for motion picture, film, and television production to include digital media and sound recording.

The Department of Business, Economic Development, and Tourism, Department of Research and Development of the County of Hawaii, Kauai Film Office, and Maui Film Office testified in support of this bill. The Department of Taxation supported the intent of this measure. The Tax Foundation of Hawaii and Office of Information Practices commented on this bill.

Your Committee has amended this bill by:

As affirmed by the record of votes of the members of your Committee on Finance that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 2558, S.D. 2, H.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 2558, S.D. 2, H.D. 2.