RELATING TO RESORT FACILITY TAX CREDIT.

Provides a tax credit to qualified taxpayers that provide wireless internet access in qualified resort facilities.

RELATING TO CONSIGNMENT OF ART.

Establishes the rights and duties of artists and art dealers under an agreement for the consignment of fine art.

RELATING TO THE ENTERTAINMENT INDUSTRY.

Establishes labor expenditure tax credits for eligible Hawaii-based or Hawaii-controlled corporations conducting film or video production or masters recordings in Hawaii. Establishes a training tax credit for eligible corporations for productions or recordings for which one or more Hawaii-based individuals are participating as trainees. Allows certain sound recordings to be eligible for a tax credit.

RELATING TO FILM INDUSTRY.

Increases the motion picture and television production tax credit up to 8 percent for costs incurred on counties with a population over 700,000, and up to 10 percent for costs incurred on counties with a population of 700,000 or less; includes commercials; requires the Hawaii television and film development board to review tax incentives for the purchase, utilization, and sale of television and motion picture production equipment in the State.

RELATING TO TAX CREDITS FOR FILM AND PERFORMING ARTS.

Expands Hawaii's current tax incentive package for motion picture and film production, and includes a refundable production tax credit.

RELATING TO THE HAWAII FILM ENHANCEMENT REBATE PROGRAM.

Creates the Hawaii film enhancement rebate program which issues rebate payments to qualifying film and television productions for production costs incurred in Hawaii.

RELATING TO CAPITAL INVESTMENTS.

Proposes a 20% refundable tax credit for scientific research by qualified research and development companies. Clarifies the existing investment tax credit. Extends the technology infrastructure renovation tax credit. Proposes to establish a 20% business-research institute tax credit. Creates the Hawaii Private Investment Fund Program to increase the availability of equity and debt capital for the emerging, expanding, and restructuring enterprises. Appropriates $20 million from the Hawaii Strategic Development Corporation revolving fund for the operation of Program.

RELATING TO CAPITAL FORMATION.

Adopts new capital formation incentives.

RELATING TO HIGH TECHNOLOGY TAX INCENTIVES.

Adopts amendments to the high technology tax incentives program.

RELATING TO ECONOMIC DEVELOPMENT.

Mandates a four-year increase in the technology infrastructure renovation tax credit starting in 2005 and ending in 2008.

(The bill listed below was deferred from February 17, 2004.)

SB 2495

SD1

RELATING TO ECONOMIC DEVELOPMENT.

Authorizes the issuance of general obligation bonds and makes an appropriation for the construction of wet lab space and a biotech incubator at Kakaako. (SD1)

(The bill listed below was heard on February 5, 2004 and deferred from February 17, 2004)

RELATING TO THE ECONOMIC VALUE OF ENTERTAINMENT CELEBRITY IDENTITIES.

Creates a right of publicity law to allow recording artists, TV personalities, and other media celebrities to control the use of their identity for commercial uses during their life and after their death.