SB290 Summary

• Increases the maximum production expenditure threshold for entertainment industry tax rebates from $10 million to $20 million per state-certified production in Alabama.

• Modifies the annual aggregate cap for all entertainment incentives: $15 million for fiscal year 2013, $20 million for fiscal year 2014, and $25 million for all subsequent fiscal years.

• Maintains the rebate structure of 25 percent for non-payroll production costs and 35 percent for Alabama resident payroll, applicable to qualified production companies.

• Preserves existing requirements that projects must meet minimum expenditure thresholds ($500,000 for most productions, $50,000 for soundtracks and music videos) to qualify for incentives.

• Takes effect immediately upon passage and approval by the Governor.