HI HB2037

Increases the annual aggregate cap on Hawaii's Motion Picture, Digital Media, and Film Production Income Tax Credit from $50,000,000 to $60,000,000

Extends the sunset date for the tax credit program from January 1, 2033 to January 1, 2038

Excess credits that exceed the annual cap in any given year can be claimed in subsequent years, with the deadline for claiming excess credits extended from December 31, 2032 to December 31, 2037

Applies to taxable years beginning after December 31, 2026

The Act itself is set to repeal on January 1, 2038, reverting the statute to its pre-2006 form