Loading chat...
GA HB1130
Bill
Status
Introduced
3/5/2020
Primary Sponsor
Beth Moore
Click for details
AI Summary
- Amends Georgia's film, gaming, video, and digital production tax credit (Code Section 48-7-40.26) to allow license or ownership fees for musical compositions and sound recordings to qualify as eligible production expenditures, provided they meet the new definition of "qualified Georgia music expenditures"
- Creates a new defined term, "qualified Georgia music expenditures," covering expenditures for the right or license to own or use a musical composition or sound recording that is audible in a qualified movie, TV production, music video, or interactive game
- Limits eligibility to music rights purchased from either a composer or recording artist who is a permanent legal resident of Georgia, or a precleared music library incorporated and housed in Georgia that paid Georgia income tax in the prior year
- Removes the prior restriction that excluded all license fees for sound recordings and musical compositions from qualifying production expenditures, replacing it with targeted eligibility tied to Georgia-based music creators and businesses
- Retains existing production tax credit provisions, including the 6% withholding requirement on payments to loan-out companies for services performed in Georgia
Legislative Description
Income tax; expenditures for certain purchases of licenses or rights to own or use certain musical compositions and sound recordings shall be production expenditures that are eligible for the tax credit; provide
Last Action
House Second Readers
3/10/2020
Full Bill Text
No bill text available