HI SB2545

Delays application of motion picture, digital media, and film production tax credits claimed between January 1, 2019, and December 31, 2019, to apply to taxable years beginning after December 31, 2021.

Delays application of tax credits claimed between January 1, 2020, and December 31, 2020, to apply to taxable years beginning after December 31, 2022.

Maintains existing requirements for qualified productions including minimum $200,000 in production costs, Hawaii promotion credit, and evidence of local hiring and workforce development efforts.

Preserves the $50,000,000 annual cap on total tax credits allowed and the $15,000,000 maximum per individual qualified production.

Takes effect upon approval and applies to taxable years beginning after December 31, 2018.