HI HB1308

Increases motion picture and digital media production tax credits from 15-20% to unspecified percentages for qualified productions in Hawaii counties, with higher rates in counties with populations of 700,000 or less.

Creates new non-refundable tax credits for qualified media infrastructure projects (production facilities, post-production facilities, and supporting infrastructure) from July 1, 2011 through December 31, 2015, with credits capped at an unspecified aggregate amount.

Adds a separate tax credit for qualified special or visual effects and animation production costs at an unspecified percentage, in addition to the base production credits.

Establishes a qualified local crew training program rebate at an unspecified percentage of hourly wages for resident participants in crew training programs with budgets of $1,000,000 or greater.

Allows taxpayers to assign tax credits to other parties on an irrevocable basis and modifies qualified production cost requirements to include equipment markups through qualified vendors and bank loan finance fees subject to general excise tax.