S.B. 9 Summary

• Authorizes a nonrefundable income tax credit equal to 25% of a qualifying investor's base investment in motion picture productions certified by the Director of Development.

• Limits tax credit certificates to $100 million per year statewide and $25 million per individual production, with certification authority from January 1, 2009 through December 31, 2013.

• Defines "eligible production expenditures" to include wages, equipment, facilities, and services consumed in Ohio for motion picture production, with a $300,000 minimum investment requirement.

• Requires motion picture production companies to engage independent certified public accountants to verify eligible production expenditures, subject to Director approval and disallowance procedures.

• Allows credits to be allocated among pass-through entity owners and transferred to other persons, with carryforward of excess credits for up to 10 taxable years.