AZ SB1242

Establishes the Arizona Commerce Authority Multimedia Production Liaison position to supervise and approve multimedia production income tax credits through December 31, 2022.

Provides production companies with 20% income tax credits on qualified production expenditures exceeding $250,000, plus additional 5% credits for using certified private facilities or employing Arizona residents, capped at $15 million per production.

Allows 15% income tax credits for privately funded multimedia production facilities with at least $50 million infrastructure investment that employ Arizona residents for 50% of full-time positions.

Requires production companies to conduct managed reviews by independent CPAs, include Arizona acknowledgment in end credits, and meet minimum $250,000 expenditure thresholds to qualify for credits.

Caps total annual preapproved credits at $70 million ($60 million for general productions, $10 million reserved for private facility credits) and creates a multimedia production fund financed by application fees.