Written Floor Remarks on Senate Bill 2570, S.D. 2, H.D. 2, C.D. 1

Representative Jon Riki Karamatsu
Floor Remarks
Senate Bill 2570, S.D. 2, H.D. 2, C.D. 1
May 2, 2006

I rise in support.

It is a goal of mine to see Hawaii's film industry grow more prosperous. There has been a lot of competition from other states and countries offering more favorable tax incentives that have taken film productions away from Hawaii.

This bill will make Hawaii more attractive for film production by increasing the tax credit from four percent to fifteen percent for qualified production costs incurred in a county with a population over seven hundred thousand and twenty percent for qualified production costs incurred in a county with a population of seven hundred thousand or less. The measure provides a maximum amount of $8,000,000 per qualified productions for the tax credit.

Thank you.