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HI SB463
Bill
AI Summary
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Extends the Motion Picture, Digital Media, and Film Production Income Tax Credit from January 1, 2016 to January 1, 2025
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Removes the Internet-only distribution exclusion from the definition of "digital media" to allow productions using digital platforms with broader distribution options to qualify for tax credits
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Clarifies that state and county facility and location fees not subject to general excise tax or state income tax are excluded from qualified production costs
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Requires the Department of Business, Economic Development, and Tourism to submit annual reports to the legislature beginning in 2014 containing cost-benefit analysis and cumulative tax credit data for qualified productions
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Applies to qualified production costs incurred on or after July 1, 2006 and to taxable years beginning after December 31, 2012
Legislative Description
Motion Picture, Digital Media, and Film Production Tax Credit; Extension
Last Action
Report adopted. referred to the committee(s) on FIN as amended in HD 1 with Wooley voting aye with reservations; none voting no (0) and Hanohano, McKelvey, Takumi, Woodson excused (4).
3/22/2013