House Bill 1686 Summary

• Establishes an income tax credit for Mississippi taxpayers and motion picture production companies investing in state-certified film and television productions, with a base credit rate of 25% of qualified expenditures.

• Provides enhanced credit rates up to 40% total through additional credits: 10% for Mississippi screenplay productions, 15% for Mississippi resident payroll, and 5% for visual effects spending meeting minimum thresholds.

• Caps total tax credits at $50 million per fiscal year with reservations of 5% for qualified entertainment companies, 5% for screenplay productions, and 10% for independent films; limits individual production credits to $20 million ($25 million for episodic content).

• Requires productions to obtain MDA certification, submit production expenditure verification reports from qualified accountants, and comply with conditions including Mississippi promotional graphics or alternative marketing, career training programs, and creditor notification requirements.

• Sunsets the program on July 1, 2025, allowing no new applications after that date, and establishes a $60 million annual fiscal year cap on tax credit claims.