RELATING TO VENTURE FINANCING.

Appropriates matching funds to the Hawaii strategic development corporation to be utilized in attracting additional private venture capital to accelerate the growth of Hawaii's technology sectors.

RELATING TO CAPITAL INVESTMENTS.

Increases the total amount of issued and transferable tax credits. Adds insurance premium taxes to the list of applicable taxes. Ensures that tax credits will be invested in Hawaii companies. Authorizes the corporation to use refundable credits to support technology industry development efforts.

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.

RELATING TO ARTIST RECORDING CONTRACTS.

Authorizes recording artist royalty recipients to audit books and records of royalty reporting party; establishes conditions.

RELATING TO INCOME TAXATION.

Exempts income received by performers, promoters, and broadcasters from personal income tax for live performances conducted in the State.

RELATING TO ECONOMIC DEVELOPMENT.

Establishes the Hawaii Innovations Fund to provide grants to individuals or businesses that conduct research or product development in the life sciences or advanced technology fields.