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    Act 221 and Act 88
    Wednesday, February 04, 2009

    Every state is facing frightening budget cuts these days (California being the most apocalyptic as they are cutting pretty much *everything*). In Hawaii, the two big issues of contention among many are Acts 88 and 221.

    Act 88 is a film tax credit and has helped the following productions get made in the last couple of years: LOST, Forgetting Sarah Marshall, Pirates of the Carribbean 3: At World's End, Tropic Thunder, and Indiana Jones and the Kingdom of the Crystal Skull. This is not to mention all the foreign productions that come here. There is a petition you can fax to the Hawaii Film and Entertainment Board (sorry, has to be done before noon February 4th -- just got the info myself).

    Act 221 is a technology tax credit (and the company I work for is a direct beneficiary). It encourages investment in research, software development, alternative energy, biotechnology, astronomy, and certain performing arts activities.

    Both of these laws are important in diversifying Hawaii's economy which is still heavily reliant on tourism and real estate. I don't want any essential services cut, but Act 88 and Act 221 are squarely in the crosshairs of the legislature -- cutting them is an easy way to get a relatively small amount of tax revenue to solve our short-term budget problems. However, these acts were always intended to grow Hawaii's economy in the long term. Hawaii really doesn't have a lot of options for growth -- the tech and film industries demand very little of the land and natural resources (we can't go agrarian or industrial, or rely entirely on fickle tourists), so they are the most viable options for growth.

    Anyway, I attended a rally at the legislature on opening day, and ended up in this video along with the rest of the BLT peeps:


    posted by KaOs at

    1 Comments:

    Anonymous Anonymous said...

    dausbablysini
    Bwgf

    Thu Nov 19, 05:22:00 PM HST  

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