HI HB1156

Removes the per-production cap of $15,000,000 on motion picture, digital media, and film production income tax credits, allowing unlimited credits per qualified production.

Eliminates the annual statewide cap of $50,000,000 on total film tax credits claimed in any given year, removing the carryover provision for excess credits.

Maintains all existing qualification requirements for productions, including minimum $200,000 in qualified production costs, Hawaii promotion, local hiring efforts, and documentation of reasonable cost-containment measures.

Preserves the tax credit rates of 20% for counties with population over 700,000 and 25% for counties with population of 700,000 or less on qualified production costs.

Takes effect upon approval, with the statute subject to repeal and reenactment on January 1, 2026.