HI SB1411

Establishes tax credits for qualified live musical and theatrical productions and facility infrastructure projects to attract productions to Hawaii and create employment opportunities for residents.

Provides base investment tax credits ranging from 10% to 25% depending on investment amount, plus transportation expenditure credits (100% in 2012, declining to 25% by 2014) for qualified costs.

Allows tax credits of one-tenth of one percent for compensating college and vocational students in arts-related programs, and 10% resident payroll tax credits capped per employee.

Limits cumulative annual tax credits to a specified amount (amount left blank in bill) distributed on first-come, first-served basis with carryover of excess applications to subsequent years.

Requires Department of Business, Economic Development, and Tourism certification of qualified projects based on criteria including economic impact, job creation, student employment opportunities, and disqualifies entities in default on state loans or with prior bankruptcies.