Bill Text: HI SB795 | 2024 | Regular Session | Amended
Bill Title: Relating To Taxes.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Passed) 2024-07-03 - Act 169, 07/02/2024 (Gov. Msg. No. 1270). [SB795 Detail]
Download: Hawaii-2024-SB795-Amended.html
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THE SENATE |
S.B. NO. |
795 |
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THIRTY-SECOND LEGISLATURE, 2023 |
S.D. 2 |
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STATE OF HAWAII |
H.D. 1 |
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C.D. 1 |
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A BILL FOR AN ACT
RELATING TO TAXES.
BE IT
ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:
SECTION 1. Section 235-17, Hawaii Revised Statutes, is amended by amending subsection (d) to read as follows:
"(d) To qualify for this tax credit, a production shall:
(1) Meet the definition of a qualified production specified in subsection (o);
(2) Have qualified production costs totaling at least $100,000;
(3) Provide the State a qualified Hawaii promotion, which shall be at a minimum, a shared-card, end-title screen credit, where applicable;
(4) Provide evidence of reasonable efforts to hire local talent and crew;
(5) Provide evidence when making any claim for products or services acquired or rendered outside of this State that reasonable efforts were unsuccessful to secure and use comparable products or services within this State;
(6) 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;
(7) [Be compliant] Provide
evidence of reasonable efforts to comply with all applicable requirements
under title 14, including tax return filing and payments; and
(8) Provide complete responses to the
department of taxation's inquiries and document requests, in the form
prescribed by the department, no later than ninety days from the inquiry or
request[.];
provided
that a taxpayer shall be given notice of and an opportunity to cure any failure
to meet the requirements of this subsection, including chapter 237, within
thirty days of receipt of the notice; provided further that nothing in this subsection shall be interpreted as waiving any act
required by this section."
SECTION 2. Statutory material to be repealed is bracketed and stricken. New statutory material is underscored.
SECTION 3. This Act shall take effect on January 1, 2025.
Report Title:
Motion Picture, Digital Media, and Film Production Income Tax Credit; Compliance; Cure
Description:
Requires productions to provide evidence of reasonable efforts to comply with all applicable requirements to qualify for the Motion Picture, Digital Media, and Film Production Income Tax Credit. Requires taxpayers be given notice of and an opportunity to cure requirements for the Motion Picture, Digital Media, and Film Production Income Tax Credit within thirty days of receiving the notice. Takes effect 1/1/2025. (CD1)
The summary description
of legislation appearing on this page is for informational purposes only and is
not legislation or evidence of legislative intent.
