MO HB1451

Repeals and reenacts section 135.750 relating to tax credits for qualified film production projects in Missouri.

Extends the sunset date of the film production tax credit program from November 28, 2007 to November 28, 2014 (a six-year extension).

Maintains the tax credit structure allowing taxpayers up to 35 percent of qualifying expenses for qualified film projects beginning January 1, 2008, with an annual cap of $4.5 million in total credits.

Defines "qualified film production project" as productions under 30 minutes with at least $50,000 in-state expenditures or over 30 minutes with at least $100,000 in-state expenditures, excluding news, talk shows, sports events, political ads, and obscene material.

Allows taxpayers to carry forward unused credits for up to five tax periods, with all credits claimed within ten tax periods, and permits transfer of tax credits to other taxpayers.