CT SB00176

Establishes film tax credit rates for qualifying productions based on expense thresholds: 10% for $100,000-$500,000 in costs, 15% for $500,000-$1 million, and 30% for over $1 million (effective January 1, 2010).

Requires production companies to conduct at least 25% of principal photography days in Connecticut, expend 50% of postproduction costs in-state, or spend at least $1 million on postproduction in Connecticut to qualify for credits.

Limits compensation eligible for tax credits to base salary and wages under $20 million in aggregate for star talent, excluding bonus pay, stock options, and similar arrangements.

Allows tax credits to be transferred up to three times to other taxpayers and claimed against taxes for the year expenses were incurred or in the three subsequent years.

Caps individual compensation for tax credit purposes at $15 million (prior to 2010) or $20 million in aggregate (2010 and after) and excludes development costs from qualifying production expenses effective January 1, 2010.