AL HB316

Amends Section 41-7A-43 of the Code of Alabama to modify tax rebate eligibility for qualified production companies, requiring production expenditures to equal or exceed $500,000 within 12 months from the date of production approval rather than certification.

Allows state-certified productions to aggregate their budgets together to surpass the $500,000 threshold, provided none of the individual aggregated productions meet or exceed the threshold separately.

Maintains existing rebate structure: 25 percent of production expenditures excluding Alabama payroll plus 35 percent of payroll paid to Alabama residents.

Applies rebate caps for different production types: $20,000,000 for general productions, $300,000 for soundtracks, and $200,000 for music videos.

Becomes effective on the first day of the third month following passage and approval by the Governor.