HB 1368 Summary

• Removes the $15,000,000 annual cap on total tax credits claimed per qualified film production.

• Eliminates the $50,000,000 yearly limit on total motion picture, digital media, and film production income tax credits statewide.

• Establishes a 5% deduction from total aggregate tax credits claimed annually to be transferred to the Hawaii film and creative industries development special fund for education and workforce development programs.

• Adds a new funding category to the Hawaii film and creative industries development special fund for continuing education and film, digital media, and film education development programs.

• Maintains existing qualification requirements including minimum $200,000 in production costs, local hiring efforts, and Hawaii promotion provisions.