S.B. 921 Summary

• Reduces the tax credit cap for motion picture, digital media, and film production from $15,000,000 to $12,000,000 per qualified production.

• Requires the Department of Taxation to publicly disclose the names of taxpayers receiving the production tax credit and the total amount of credit each received.

• Creates an exception to Hawaii's tax return confidentiality laws to allow the Department of Taxation to make the required public disclosures under section 235-17.

• Applies to taxable years beginning after December 31, 2020, with an effective date of July 1, 2050.