HI HB1494

Increases the annual cap for motion picture, digital media, and film production income tax credits from $50,000,000 to $75,000,000, effective for taxable years beginning after December 31, 2023.

Expands the definition of "qualified production" to include streaming platform episodes and features, allowing up to ten episodes per season for streaming series (compared to twenty-two for broadcast television).

Requires film productions with $1,000,000 or more in production expenditures to submit independent third-party certification by a qualified certified public accountant verifying qualified production costs, along with information on local hiring by category and county.

Sets December 31, 2032 as the deadline for claiming excess credits that carry over from years when the annual cap is exceeded.