CT SB01046

Allows film production tax credits to be claimed against sales and use taxes (chapter 219) for income years commencing on or after January 1, 2018, in addition to existing claims against corporate and individual income taxes.

Reduces the credit amount when transferred to unrelated taxpayers claiming the credit against sales and use taxes: transferees may only claim 95% of the voucher amount, or 92% if the transferee owns at least 50% of the production company.

Extends the period for claiming production tax credits from 3 years to 5 years for vouchers issued on or after July 1, 2015.

Changes the definition of "controlling interest" from 100% to at least 80% ownership in subsidiaries for purposes of the sales and use tax exemption on services rendered between parent companies and affiliated subsidiaries.

Makes production tax credits nonrefundable and prevents transferred credits from being subject to post-certification remedies except in cases of material misrepresentation or fraud.