HI HB2408

Renames the Hawaii Television and Film Development Special Fund to the Hawaii Film Office Special Fund and redirects its use to fund operations and specialized personnel costs of the film office existing as of November 1, 2009.

Repeals the Hawaii Television and Film Development Board and eliminates grant and venture capital investment programs previously administered by the board.

Amends the Hawaii Community-based Economic Development Revolving Fund to fund operations and specialized personnel costs of the community-based economic development program and enterprise zone program existing as of November 1, 2009, in addition to making grants and loans.

Requires the Department of Taxation to report annually to the Legislature beginning July 1, 2011, on the effectiveness of the Motion Picture, Digital Media, and Film Production Income Tax Credit, including qualified production costs, jobs created, and compensation levels.

Takes effect July 1, 2112 (note: appears to contain a typographical error, as this date is over 100 years in the future).