IN SB0107

Reestablishes Indiana's media production expenditure tax credit (expired in 2012) for qualified production expenditures of at least $50,000, effective January 1, 2014 through December 31, 2016

Productions under $6,000,000 in expenditures receive a 40% tax credit for spending in economically distressed areas (25%+ poverty rate or 1.5x state unemployment) or 35% for other qualified expenditures

Productions of $6,000,000 or more must obtain pre-approval from the Indiana Economic Development Corporation and receive a credit of up to 15% as determined by the corporation

Caps total tax credits at $2,500,000 per state fiscal year for all taxpayers combined

Qualified expenditures include wages to Indiana residents, sets, equipment, editing, food, lodging, and legal services; excludes payments to non-resident directors, producers, screenwriters, and lead actors