FL S2122

Extends the entertainment industry financial incentive program's sunset date from July 1, 2015 to July 1, 2020, adding tax credit allocations of $53.5 million (fiscal year 2015-2016), $74.5 million (fiscal year 2016-2017), and $42 million per year for fiscal years 2017-2018 through 2019-2020.

Expands the definition of "digital media project" to explicitly include digital animation, visual effects, three-dimensional movie productions, and movie conversions.

Removes previous caps limiting television series to 25 percent of tax credits and creates a new priority system where high-impact television series and high-impact digital media projects (greater than $4.5 million in qualified expenditures) receive first position in the queue on an alternating, first-come basis.

Reduces the required percentage of principal photography or qualified expenditures for certain production components from 50-85 percent to 25 percent to qualify for additional tax credits related to underutilized regions and qualified production facilities.

Allows high-impact television series that are off-season certified productions to remain eligible for the additional 5 percent tax credit even if a hurricane or tropical storm prevents completion of 75 percent of principal photography during the required June 1 to November 30 period.