IN SB0039

Reestablishes the media production expenditure tax credit (expired in 2012) as a refundable tax credit for Indiana media productions with a minimum qualified production expenditure of $50,000.

For productions under $6,000,000 in expenditures, provides a tax credit of 40% for expenditures in economically distressed municipalities or counties, or 35% for other expenditures.

For productions of $6,000,000 or more, allows the Indiana Economic Development Corporation to determine a tax credit percentage (not exceeding 15%), but requires prior IEDC approval before incurring expenditures.

Caps total tax credits allowed statewide at $2,500,000 per fiscal year and allows excess credits to be refunded to taxpayers; credits cannot be sold or transferred.

Effective January 1, 2015, with the credit program expiring for tax years ending after December 31, 2017.