STAND. COM. REP. NO.  125-16

 

Honolulu, Hawaii

                , 2016

 

RE:   H.B. No. 2088

 

 

 

 

Honorable Joseph M. Souki

Speaker, House of Representatives

Twenty-Eighth State Legislature

Regular Session of 2016

State of Hawaii

 

Sir:

 

     Your Committee on Economic Development & Business, to which was referred H.B. No. 2088 entitled:

 

"A BILL FOR AN ACT RELATING TO FILM AND DIGITAL MEDIA INDUSTRY DEVELOPMENT,"

 

begs leave to report as follows:

 

     The purpose of this measure is to continue to diversify and strengthen Hawaii's economy through increased growth of the film, digital media, and television industry in Hawaii by extending the motion picture, digital media, and film production tax credit for an additional five years.

 

     NBC Universal Media, LLC, CBS Corporation, and a concerned individual testified in support of this measure.  The Department of Business, Economic Development and Tourism and Department of Taxation testified in support of the intent of this measure.  The Tax Foundation of Hawaii provided comments.

 

     Hawaii has the status of being a dynamic and stunning film production center. Hawaii is also blessed with a vibrant and growing entertainment economy.  The motion picture, television, and digital media industry has had a positive impact on the economy of Hawaii through job creation, increased tax revenues, and providing Hawaii's visitor industry with priceless marketing exposure on a global scale throughout the year.  Your Committee finds that extending the motion picture, digital media, and film production tax credit for an additional five years will continue the positive economic impacts already experienced by Hawaii for years to come.

 

     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. 2088 and recommends that it pass Second Reading and be referred to your Committee on Finance.

 

 

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

 

 

 

 

____________________________

DEREK S.K. KAWAKAMI, Chair