New Hawaii law raises tax credits for filmmakers
Film tax credits jumps from 20% to 25% in counties fewer than 700,000 people
Hawaii Gov. Neil Abercrombie has signed a law increasing tax credits for filmmakers to help expand Hawaii's movie industry.
The law boosts film tax credits from 20 to 25 percent in counties with fewer than 700,000 people.
The law also raises tax credits from 15 to 20 percent in counties like Honolulu with larger populations.
Movie productions will be able to claim a credit of up to $15 million after the law goes into effect on July 1.
Advocates of the measure have said it will help diversify Hawaii's economy and add jobs. But critics say there should be more tax relief for residents instead of movie producers.
Hawaii has been the site of popular films including "The Descendants" and "The Hunger Games."
Copyright 2013 by The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.