Film Bill Passed by Conference Committee!

Very exciting news! SB2570 (15-20% production tax credit) was passed out by the conference committee just a few minutes ago! The draft passed out is known as CD1, or conference draft 1. Just two more steps left before it formally becomes law: (1) Floor votes in both legislative bodies (need majority) and (2) Governor Lingle signs it into law. This is all very exciting because the revision of our existing (insufficient) 4% film tax rebate has been 5 years in the making. I'll summarize the bill in layperson's terms after I eat my lunch tomorrow.