H.B. 540 Summary

• Allows qualified film and digital media productions to provide alternative marketing opportunities approved by the Department of Business, Economic Development, and Tourism instead of requiring a shared-card, end-title screen credit.

• Reduces the maximum total tax credits that may be claimed per qualified production from $15,000,000 to $12,500,000.

• Increases the annual aggregate cap on total motion picture, digital media, and film production income tax credits from $35,000,000 to $45,000,000.

• Requires the Department of Business, Economic Development, and Tourism to report to the legislature on approved alternative marketing opportunities and production companies that elected to use the traditional end-title screen credit instead.

• Takes effect July 1, 2019, with any excess credits applied after December 31, 2025 not permitted.