IL SB3359

Requires taxpayers who transfer film production services credits to pay 1.5% of the credit amount to the Department of Commerce and Economic Opportunity, effective July 1, 2020.

Creates the Film Workforce Training and Diversity Fund as a special fund in the State treasury to receive the 1.5% payments from film credit transfers.

Designates Fund moneys exclusively for grants to community-based organizations, labor organizations, universities, community colleges, and other approved institutions to administer workforce development and training programs in the film industry.

Specifies that the Film Workforce Training and Diversity Fund is protected from state budget sweeps, administrative charge-backs, and other fiscal maneuvers that would transfer funds out of the account.

Takes effect immediately upon becoming law.