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GA HB285
Bill
Status
Engrossed
2/29/2016
Primary Sponsor
Ron Stephens
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AI Summary
- Creates the "Georgia Small Entertainment Industry Investment Act," providing a 20% income tax credit on base investments of $500,000 or less in qualified film, video, and digital production activities in Georgia, with an additional 10% credit available for productions that include a qualified Georgia promotional logo or equivalent marketing opportunity
- Caps the aggregate annual tax credits under the program at $6 million, with a maximum of $150,000 per qualified production company and its affiliates per taxable year
- Allows earned but unused tax credits to be transferred or sold to other Georgia taxpayers, subject to conditions including a minimum purchase price of 60% of the credit value, and permits unused credits to be carried forward for five years
- Establishes a separate income tax credit of up to $500 per taxable year for active Georgia State Defense Force members who have served in good standing for at least eight months, with no carry-forward permitted
- Applies to tax years beginning on or after January 1, 2016, and requires the Department of Economic Development to submit annual reports on approved alternative marketing opportunities to legislative committees and the Governor
Legislative Description
Income tax credit; film, video, and digital production in Georgia; change certain qualifications
Last Action
Senate Read Second Time
3/15/2016
Full Bill Text
No bill text available