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IN HB1219
Bill
Status
1/10/2017
Primary Sponsor
David Frizzell
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AI Summary
HB 1219 Summary
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Establishes a refundable Indiana film and media production expenditure tax credit for qualified productions with at least $35,000 in qualified Indiana production expenditures and at least 50% of total expenses incurred in Indiana.
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Tax credit amount equals qualified production expenditures multiplied by a percentage (up to 35% for workforce training/internships, 30% for wages/salaries/benefits, 20% for other expenditures) determined by the Indiana Economic Development Corporation.
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Requires applicants to obtain pre-production approval from IEDC with a $200 application fee and $500-$1,000 final administrative fee, with IEDC review completed within 30 days.
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Caps total tax credits awarded statewide at $15,000,000 annually (potentially increasing to $20,000,000 after June 30, 2019 if maximum is reached), with credits unavailable for taxable years ending after December 31, 2023.
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Eligible productions include feature films, television series, digital media, music videos, advertising, and educational content, while excluding news coverage, talk shows, awards shows, and obscene material.
Legislative Description
Film production tax credit. Establishes the Indiana film and media production expenditure tax credit. Provides a refundable tax credit to taxpayers that make certain expenditures for a qualified media production if at least 50% of the total incurred expenses are qualified production expenditures in Indiana. Provides that the tax credit may be granted only if qualified production expenditures are at least $35,000. Provides that the amount of the credit equals the taxpayer's qualified production expenditures multiplied by a percentage determined by the Indiana economic development corporation (IEDC). Specifies that the tax credit percentage may not be more than: (1) 35%,
Last Action
First reading: referred to Committee on Ways and Means
1/10/2017