Posted on 08/20/2004 4:38:53 PM PDT by ejdrapes
We have so given up on them we lump them as MSM or the media.
I thought I remembered something about shangri-La Entertainment.
And these people complain about tax cuts for the wealthy?
The state's recent approval of high-tech tax credits for two film productions has Hawai'i business leaders hoping the news will stimulate more use of the credits.
Shangri-La Entertainment, producers of "The Big Bounce," a $50 million film starring Morgan Freeman and Owen Wilson, yesterday confirmed that investors in the movie received state Department of Taxation approval for investment tax credits under Act 221, a high-technology industry incentive passed in 2001.
Also, a local filmmaker received Act 221 approval for a yet-to-be-filmed, $100,000 independent production, "Our Hearts Were Touched With Fire," about Hawai'i's nisei soldiers in World War II.
Film industry advocates called Act 221 approval for "The Big Bounce" a watershed for the film industry, which has shown increasing interest in using the tax credits — but also shied away from controversy surrounding the act.
"This is something that's very positive for the industry," said Donne Dawson, state film commissioner. "I'm now dealing with an onslaught of calls — Hollywood is showing tremendous interest in Hawai'i."
Act 221 has been the target of critics who say it's too broad and vaguely worded. The credits have been used extensively by the high-tech industry, but when investors in surf movie "Blue Crush" received approval for more than $18 million in Act 221 tax credits, critics questioned the appropriateness of using a high-tech tax incentive to attract a film production.
Sanctimonious reprobates.
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