HB 1707 Summary

• Adds new 30% income tax credit tier for qualified film productions in any Hawaii county if 25% of talent and crew are Hawaii residents, in addition to existing 22% and 27% credit tiers based on county population.

• Increases annual tax credit cap from current amount to $50,000,000 per year, with individual production cap of $17,000,000, and extends program through December 31, 2032.

• Allows productions to provide alternative marketing opportunities approved by the Department of Business, Economic Development, and Tourism instead of required shared-card, end-title screen credits.

• Requires department to report to legislature on approved alternative marketing opportunities, their justification, and production companies choosing traditional screen credits over alternative marketing proposals.

• Implements 0.2% fee on claimed tax credits to fund the Hawaii film and creative industries development special fund, and applies changes to taxable years beginning after December 31, 2024.