SB49 Summary

• Amends Alabama Code Section 41-7A-43 to clarify that qualified production companies can receive rebates for production expenditures that exceed their Alabama income tax liability, with excess rebates paid directly to the company.

• Establishes rebate rates of 25 percent for non-payroll production expenses and 35 percent for payroll paid to Alabama residents, applicable to state-certified productions with minimum expenditures of $500,000.

• Sets spending caps on rebates: $20 million for general productions, $300,000 for soundtracks, and $200,000 for music videos.

• Allows aggregation of television episodes, commercials, and other productions within a 12-consecutive-month period to meet minimum expenditure thresholds if episodes or commercials share the same subject matter.

• Takes effect retroactively to June 14, 2011.