AL HB408

Amends Section 41-7A-43 of the Alabama Code to modify the Entertainment Industry Incentive Act of 2009 regarding tax rebates for qualified production companies.

Requires production expenditures to equal or exceed $500,000 within 12 months from the date of production approval as a qualified production (previously measured from certification date).

Allows state-certified productions to aggregate their budgets to meet the $500,000 threshold, provided no aggregated production individually meets or exceeds the threshold.

Maintains rebate rates of 25 percent of production expenditures excluding Alabama payroll plus 35 percent of all payroll paid to Alabama residents.

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