ME LD1957

Repeals the existing visual media production tax credit and replaces it with an expanded reimbursement program offering 25% for wages paid to Maine residents, 20% for non-residents, and 25% for nonwage production expenses

Provides an additional 3% reimbursement bonus for productions filming at least 60% of principal photography in rural Maine counties (Aroostook, Franklin, Kennebec, Oxford, Penobscot, Piscataquis, Somerset, or Washington)

Increases the per-individual wage cap eligible for reimbursement from $50,000 to $75,000 and requires a minimum of $75,000 in production expenses to qualify

Establishes per-production reimbursement caps starting at $500,000 for 2025-2026, increasing to $750,000 in 2027, and $1,000,000 for 2028 and beyond, with annual program-wide caps of $1,000,000 to $2,000,000

Requires third-party CPA audits for productions with budgets of $500,000 or greater and mandates tax withholding on payments to loan-out companies (entities set up for individual actors or artists)