Bill Text: HI HB2610 | 2016 | Regular Session | Amended
Bill Title: Motion Picture Income Tax Credit
Spectrum: Partisan Bill (Democrat 15-0)
Status: (Engrossed - Dead) 2016-03-10 - Referred to EET, WAM. [HB2610 Detail]
Download: Hawaii-2016-HB2610-Amended.html
|
HOUSE OF REPRESENTATIVES |
H.B. NO. |
2610 |
|
TWENTY-EIGHTH LEGISLATURE, 2016 |
H.D. 2 |
|
|
STATE OF HAWAII |
|
|
|
|
|
|
|
|
||
|
|
||
A BILL FOR AN ACT
RELATING TO INCOME TAX CREDITS.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 235-17, Hawaii Revised Statutes, is amended as follows:
1. By amending subsection (d) to read:
"(d) To qualify for this tax credit, a production shall:
(1) Meet the definition of a qualified production specified in subsection (l);
(2) Have qualified production costs totaling at least $200,000;
(3) Provide the State, at a minimum, a shared-card, end-title screen credit, where applicable;
(4) Provide evidence of reasonable efforts to hire [local]
at least per cent of the production's
talent and crew[;] from the county in which the qualified production
costs are incurred; provided that this requirement shall not apply to hired
individuals who principally add to the creative direction, process, voice, and
narrative of the production, including the screenwriter, producer, director,
and on-camera, microphone, or voice-over talent; and
(5) Provide evidence of financial or in-kind contributions or educational or workforce development efforts, in partnership with related local industry labor organizations, educational institutions, or both, toward the furtherance of the local film and television and digital media industries."
2. By amending subsection (h) to read:
"(h) Every taxpayer claiming a tax credit under this section for a qualified production shall, no later than ninety days following the end of each taxable year in which qualified production costs were expended, submit a written, sworn statement to the department of business, economic development, and tourism, identifying:
(1) All qualified production costs as provided by subsection (a), if any, incurred in the previous taxable year;
(2) The amount of tax credits claimed pursuant to this section, if any, in the previous taxable year; and
(3) The number of total hires versus the number of
local hires by category and by county[.]; provided that the taxpayer
shall verify the county of residency of local hires.
This information may be reported from the department of business, economic development, and tourism to the legislature in redacted form pursuant to subsection (i)(4)."
SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 3. This Act shall take effect on July 1, 2030, and shall apply to taxable years beginning after December 31, 2015.
Report Title:
Motion Picture Income Tax Credit
Description:
Amends the qualifications for a motion picture, digital media, and film production income tax credit to require a production to: (1) Hire an unspecified percentage of the production's talent and crew, with some exceptions, from the county in which the production costs were incurred; and (2) Verify the county of residency of local hires. (HB2610 HD2)
The summary description of legislation appearing on this page is for informational purposes only and is not legislation or evidence of legislative intent.
