CO HB1005

HB 25-1005: Tax Incentives for Film Festival Industry

• Creates a refundable income tax credit for film festival organizers hosting festivals in Colorado, effective for tax years 2027-2036, with the program repealing December 31, 2041.

• Global film festivals (those with 100,000+ annual ticket sales and multi-decade operating history) may reserve up to $34 million in total tax credits, with annual caps of $4 million (2027-2028), $5 million (2029), and $3 million (2030-2036).

• Existing or small Colorado film festivals may reserve up to $500,000 per entity annually, with a total annual cap of $500,000 for this category; priority given to festivals with 10+ year operating history, demonstrated community impact, or facing substantial market challenges.

• Qualified expenditures include employee salaries, contractor costs, venue rentals, travel expenses, marketing, insurance, and capital investments needed to operate the festival in Colorado.

• Tax credit program is contingent on at least one global film festival entity commencing relocation to Colorado by January 1, 2026; the Colorado Office of Economic Development administers the program jointly with the Office of Film, Television, and Media.