STAND. COM. REP. NO.  520

Honolulu, Hawaii

                , 2013

RE:   H.B. No. 566

      H.D. 1

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Seventh State Legislature

Regular Session of 2013

State of Hawaii

Sir:

     Your Committee on Economic Development & Business, to which was referred H.B. No. 566 entitled:

"A BILL FOR AN ACT RELATING TO DIGITAL MEDIA INFRASTRUCTURE,"

begs leave to report as follows:

The purpose of this measure is to establish an income tax credit for qualified media infrastructure projects.

A concerned individual testified in support of this measure.  The Department of Business, Economic Development, and Tourism; Department of Taxation; Honolulu Film Office; Tax Foundation of Hawaii; NBC Universal Media, LLC.; SHM Partners/Film Studio Group; and Island Film Group submitted comments.

     Your Committee has amended this measure by leaving the amount of the tax credit unspecified.

     As affirmed by the record of votes of the members of your Committee on Economic Development & Business that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 566, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 566, H.D. 1, and be referred to the Committee on Finance.

Respectfully submitted on behalf of the members of the Committee on Economic Development & Business,

____________________________

CLIFT TSUJI, Chair