STAND. COM. REP. NO.2811
RE: S.B. No. 3021
Honorable Robert Bunda
President of the Senate
Twenty-First State Legislature
Regular Session of 2002
State of Hawaii
Your Committee on Ways and Means, to which was referred S.B. No. 3021, S.D. 1, entitled:
"A BILL FOR AN ACT RELATING TO MOTION PICTURE AND FILM PRODUCTION,"
begs leave to report as follows:
The purpose of this measure is to expand the tax credit for motion picture and film production to include up to twenty-two percent of the costs of wages and salaries, capped at $25,000 per employee, and to include commercials in motion picture and film production.
Your Committee finds that this measure is intended to attract additional motion picture and film productions to Hawaii in the face of increasing global competition.
Your Committee has amended this measure to clarify that the tax credit for wages and salaries applies only to the first $25,000 earned by an employee, and to change the tax credit to an unspecified amount for the purposes of further discussion.
As affirmed by the record of votes of the members of your Committee on Ways and Means that is attached to this report, your Committee is in accord with the intent and purpose of S.B. No. 3021, S.D. 1, as amended herein, and recommends that it pass Third Reading in the form attached hereto as S.B. No. 3021, S.D. 2.
Respectfully submitted on behalf of the members of the Committee on Ways and Means,
BRIAN T. TANIGUCHI, Chair