HB 5980 Summary

• Amends the Michigan Business Tax Act to modify the film production tax credit under Section 455, with changes effective April 8, 2008.

• Requires long-form narrative film productions receiving the credit to include a "Filmed in Michigan" acknowledgment in end credits, with the Michigan Film Office developing the logo and approving alternative statements.

• Clarifies that a postproduction "certificate of completion" (not "of completion") is issued by the Michigan Film Office to eligible production companies that comply with agreement terms.

• Maintains existing credit rates of 42% for direct production expenditures in core communities, 40% outside core communities, and 30% for qualified personnel expenditures, with a $50,000 minimum state spending requirement.

• Preserves provisions for credit assignment, 0.5% redemption fee, annual reporting requirements, and penalties for fraudulent submissions to the Michigan Film Promotion Fund.