THE TWENTY-NINTH LEGISLATURE
REGULAR SESSION OF 2017
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Senator Glenn Wakai, Chair |
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Senator Brian T. Taniguchi, Vice Chair |
NOTICE OF HEARING
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DATE: |
Friday, February 10, 2017 |
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TIME: |
1:15PM |
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PLACE: |
Conference Room 414 State Capitol 415 South Beretania Street |
A G E N D A
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RELATING TO THE MOTION PICTURE, DIGITAL MEDIA, AND FILM PRODUCTION INCOME TAX CREDIT. Limits the aggregate motion picture, digital media, and film production income tax credit to $50,000,000 per taxable year. Clarifies that qualified expenditures are required to be expended within this State. Amends Act 88, Session Laws of Hawaii 2006, to extend the sunset date from January 1, 2019, to January 1, 2024. Requires DBEDT to submit an annual report to the legislature regarding the activities and expenditures of the tax credit. Clarifies that no rule shall be adopted to expand the scope of the tax credit where the rule conflicts with legislative intent. Requires DBEDT to conduct a financial audit of every film production in the State. Requires DBEDT, in collaboration with Department of Taxation, to submit to the governor and the legislature a report on the number of jobs created in the State and the fiscal impact of every film production in the State; provided that each report shall be independently verified and audited for accuracy.
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ETT, WAM |
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Decision Making to follow, if time permits.
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FOR AMENDED NOTICES: Measures that have been deleted are stricken through and measures that have been added are underscored. If a measure is both underscored and stricken through, that measure has been deleted from the agenda.
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FOR FURTHER INFORMATION, PLEASE CALL THE COMMITTEE CLERK AT (808)586-8585.
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_____________________________________ Senator Glenn Wakai Chair |
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