THE SENATE

THE TWENTY-SIXTH LEGISLATURE

REGULAR SESSION OF 2012

 

COMMITTEE ON ECONOMIC DEVELOPMENT AND TECHNOLOGY

Senator Carol Fukunaga, Chair

Senator Glenn Wakai, Vice Chair

 

NOTICE OF HEARING

 

 

DATE:

Monday, February 13, 2012

TIME:

2:30 p.m.

PLACE:

Conference Room 016

State Capitol

415 South Beretania Street

 

A G E N D A

 

The following measure was previously heard on Monday, February 6, 2012.  The Committee on Economic Development and Technology is holding this hearing to receive testimony on the proposed draft currently under consideration.

 

 

 

SB 2111

      Proposed SD1

      Status & Testimony

RELATING TO FILM AND DIGITAL MEDIA INDUSTRY DEVELOPMENT.

Part I increases the motion picture, digital media, and film production income tax credit to twenty-five per cent of qualified expenditures for any county with a population over 700,000 and thirty per cent of qualified expenditures for all other counties; increases the total tax credit cap to $16,000,000; requires annual report; increases requirements for hiring of legal residents of this State; applies to qualified expenditures incurred on or after January 1, 2012, and before January 1, 2027; repeals on January 1, 2027; part II establishes a motion picture, digital media, and film production infrastructure tax credit of fifty per cent of qualified infrastructure costs; requires qualified expenditure of at least $10,000,000; increases requirements for hiring of legal residents of this State; provides for an annual payment to the department of business, economic development, and tourism Hawaii film office equal to one per cent of the tax credit received by the taxpayer; provides for a 100 per cent recapture of the tax credit if the facilities are no longer used for a qualified activity; requires annual report; applies to taxable years beginning after 12/31/2011.

 

EDT, WAM

 

Copies of the proposed SD 1 are available from the Senate Document Center and on the Legislature's website:  www.capitol.hawaii.gov.

 

 

Decision Making to follow, if time permits.

 

Click here to submit testimony to the Senate Committee on Economic Development and Technology.

 

Testimony may be submitted up to 24 hours prior to the start of the hearing.

 

FOR AMENDED NOTICES:  Measures that have been deleted are stricken through and measures that have been added are underscored.  If a measure is both underscored and stricken through, that measure has been deleted from the agenda.

 

If you require auxiliary aids or services to participate in the public hearing process (i.e. ASL or foreign language interpreter, or wheelchair accessibility), please contact the committee clerk at least 24 hours prior to the hearing so that arrangements can be made.

 

FOR FURTHER INFORMATION, PLEASE CALL THE COMMITTEE CLERK AT 586-6788.

 

 

 

 

 

_____________________________________

Senator Carol Fukunaga

Chair