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MO SB387
Bill
Status
2/26/2013
Primary Sponsor
Jamilah Nasheed
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AI Summary
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Repeals and re-enacts section 135.750, RSMo, governing film production tax credits in Missouri.
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Reduces the annual tax credit cap from $4.5 million (2008-2013) to $3.5 million for taxable years beginning January 1, 2014 and thereafter.
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Extends the program sunset date from an automatic sunset to December 31, 2018, unless reauthorized by the general assembly.
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Maintains the 35% tax credit rate for qualifying expenses in qualified film productions and allows credits to be carried forward for up to five tax periods (10-period claim deadline).
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Excludes compensation exceeding $1 million per individual from qualifying expenses and prohibits certain production types including news, talk shows, sports events, political ads, and obscene material from credit eligibility.
Legislative Description
Reduces the fiscal year cap and extends the sunset on the film production tax credit
Last Action
Hearing Conducted S Jobs, Economic Development and Local Government Committee
4/17/2013