RELATING TO TAXES.

Establishes a general excise tax withholding requirement on payments to loan-out companies for services performed in Hawaii for persons claiming the motion picture, digital media, and film production income tax credit (income tax credit). Requires taxpayers claiming the income tax credit to submit a sworn statement and verification review to the Department of Business, Economic Development, and Tourism (DBEDT) only if qualified production costs exceed $1,000,000. Requires reports by DBEDT to the Legislature on the income tax credit to identify the dollar amount claimed, name of company, and name of program claiming the credit. Extends the period during which excess income tax credits may be claimed to December 31, 2032. Requires qualified productions that claim the income tax credit to withhold a certain amount and remit that amount within thirty calendar days to the Department of Taxation (DOTAX) to the credit of the general excise tax account of the loan-out company. Amends the uses of the Tax Administration Special Fund. Allows DOTAX to establish four full-time equivalent tax auditor positions to examine claims for the income tax credit and other tax expenditures and to establish application processing fees. (SD1)