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GA HB1027
Bill
Status
Passed
5/2/2012
Primary Sponsor
Amy Carter
Click for details
AI Summary
- Extends Georgia's film and video production tax credit (20% of base investment, plus an additional 10% for including a qualified Georgia promotion) to "qualified interactive entertainment production companies" (interactive/video game companies) with gross income under $100 million
- Caps the aggregate tax credit for qualified interactive entertainment production companies at $25 million total, with a maximum of $5 million per company and its affiliates, awarded on a first-come, first-served basis
- Allows production companies to offer alternative marketing opportunities in lieu of the Georgia promotional logo, subject to Department of Economic Development approval, and requires the Department to submit an annual report on approved alternatives to legislative committees and the Governor
- Refines definitions of "production expenditures" to include payments to loan-out companies (subject to 6% Georgia income tax withholding), sound recordings/musical compositions from Georgia companies, and explicitly excludes postproduction for footage shot outside Georgia, story rights, marketing, and distribution costs
- Section 1 (job tax credit definition changes including "affiliate" and "taxpayer") applies to tax years beginning on or after January 1, 2012; Section 2 (film/interactive entertainment credit changes) applies to tax years beginning on or after January 1, 2013
Legislative Description
Revenue and taxation; tax credit for film or video production in Georgia; change certain provisions
Last Action
Effective Date
5/2/2012
Committee Referrals
Finance3/7/2012
Ways and Means2/16/2012
Full Bill Text
No bill text available