HOUSE OF REPRESENTATIVES	H.B. NO.	932
THIRTY-SECOND LEGISLATURE, 2023
STATE OF HAWAII

A BILL FOR AN ACT

relating to the motion picture, digital media, and film production income tax credit.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

SECTION 1. Section 235-17, Hawaii Revised Statutes, is amended by amending subsection (n) to read as follows:

"(n) The total amount of tax credits allowed under this section in any particular year shall be [$50,000,000;] $          ; however, if the total amount of credits applied for in any particular year exceeds the aggregate amount of credits allowed for that year under this section, the excess shall be treated as having been applied for in the subsequent year and shall be claimed in the subsequent year; provided that no excess shall be allowed to be claimed after December 31, 2032."

SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.

SECTION 3. This Act, upon its approval, shall apply to taxable years beginning after December 31, 2022.

INTRODUCED BY:

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Report Title:

Motion Picture, Digital Media, and Film Production Income Tax Credit; Taxation

Description:

Changes the total amount of motion picture, digital media, and film production income tax credits allowed per year from $50,000,000 to an unspecified amount.

The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.