House Bill 1880 Summary

• Authorizes a 25% income tax credit for production companies that expend at least $4 million in qualified expenditures for state-certified scripted or unscripted television series, content, or pilot episodes produced in Mississippi with at least 65% of running time occurring in-state.

• Provides additional tax credits of 20% for non-resident employee payroll and fringes, 30% for resident employee payroll and fringes, and 5% for resident directors, producers, and cinematographers (each capped at $3 million per employee).

• Allows production companies to carry forward excess tax credits for ten years, or elect to claim a rebate equal to 75% of the credit amount instead of carrying forward unused credits.

• Limits total credits and rebates authorized in any fiscal year to $42 million in the aggregate.

• Amends existing motion picture incentive provisions to prevent double-dipping by excluding expenditures claimed under this new television production credit from eligibility under other motion picture rebate programs.