HI HB2590

Amends the definition of "qualified production costs" for Hawaii's film production tax credit by removing the requirement that costs be subject to the general excise tax "at the highest rate of tax" and removing the phrase "if the costs are not subject to general excise tax" for income tax eligibility.

Explicitly includes "production as defined in section 235-17" within the definition of manufacturing activities subject to the general excise tax at one-half of one percent of gross proceeds.

Clarifies that qualified production costs include rentals and fees for state and county facilities even when not subject to general excise tax or income tax.

Specifies that qualified production costs exclude any costs funded by grants, forgivable loans, or other amounts not included in gross income for tax purposes.