Hawaii HB2568 increases fees for film production tax credits to fund vertical film industry support.

Hawaii HB2568 amends the tax credit process for motion picture, digital media, and film production. It raises the fee paid by taxpayers claiming these credits, with 80% of the collected fees dedicated to supporting the vertical film industry in Hawaii. Vertical films refer to content shot in a vertical orientation, a growing trend. The increased fees will fund set building, grants, training, and workforce development. The changes apply to taxable years starting after December 31, 2026, with certain provisions set to expire by January 1, 2033.

Hawaii HB2568 increases fees for film production tax credits to fund vertical film industry support.

Hawaii HB2568 amends the tax credit process for motion picture, digital media, and film production. It raises the fee paid by taxpayers claiming these credits, with 80% of the collected fees dedicated to supporting the vertical film industry in Hawaii. Vertical films refer to content shot in a vertical orientation, a growing trend. The increased fees will fund set building, grants, training, and workforce development. The changes apply to taxable years starting after December 31, 2026, with certain provisions set to expire by January 1, 2033.