HB 6265 Summary

• Amends Section 455 of the Michigan Business Tax Act to modify the qualified film production tax credit program administered by the Michigan Film Office.

• Establishes tax credit rates of 42% for direct production expenditures in core communities, 40% in other areas, and 30% for qualified personnel expenditures made after February 29, 2008.

• Requires eligible production companies to spend at least $50,000 in Michigan, enter into an agreement with the Film Office, obtain a postproduction certificate of completion, and maintain compliance with state tax obligations.

• Imposes a 0.5% credit application and redemption fee deducted from the credit amount and deposited into the Michigan Film Promotion Fund; permits credit assignment to other taxpayers.

• Mandates annual reporting to the governor and legislature on credit effectiveness, including number of productions, expenditure amounts, employment estimates, and total tax credit value issued.