MEDIA RELEASE

During the 2012 State Budget Conference Committee meeting this morning, Senate Ways and Means Committee Chair David Y. Ige outlined the priority measures in the Senate 2012 Economic Accelerator package, which include:

* Advancing $400 million in R&M to create jobs and to provide needed investments in aging facilities.

* Refocus and enhance film and digital media credits to create more local jobs, expand the industry throughout the State, and enhance the State’s visitor marketing.

* Make strategic investments in our core tourism industry by providing an additional $2 million to develop and implement initiatives to take advantage of expanded visa programs and increased travel opportunities for international visitors, including China. Maximize the synergy between tourism and film by integrating the film office into HTA.

* Accelerate and enhance the partnership with the car rental industry by appropriating $500 million in revenue bonds to allow the Oahu and Maui facilities to be initiated as soon as possible.

* Make critical investments in our social infrastructure by providing needed funds to our non-profit community that provide safety-net services for our citizens.

When the costs of all of these initiatives are included in the financial plan, carryover balance of $218 million in FY13 is reflected.

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