HB 12-1286 Summary

• Establishes the Colorado Office of Film, Television, and Media within the Office of Economic Development to promote film, television, and media production in Colorado.

• Creates a performance-based incentive program providing 20% tax credits to production companies that originate films in Colorado with $100,000+ in qualified local expenditures, or non-originating companies with $1,000,000+ in expenditures, while employing at least 50% Colorado residents.

• Authorizes the office to guarantee loans up to 20% of production activity budgets for qualified production companies meeting experience, bonding, and sales company requirements.

• Establishes the Colorado Office of Film, Television, and Media Operational Account Cash Fund with $3,000,000 initial transfer from the General Fund on July 1, 2012, with future funding from gaming revenue distributions.

• Excludes obscene films from eligibility and requires certified public accountant verification of qualified local expenditures before incentive payments are issued; effective July 1, 2012.