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OH HB521
Bill
Status
Engrossed
5/9/2012
Primary Sponsor
Denise Driehaus
Click for details
AI Summary
- Increases maximum annual tax credits for motion picture productions from $20 million to $40 million per fiscal biennium beginning July 1, 2011
- Raises the first-year cap within each biennium from $10 million to $20 million
- Maintains the per-production limit of $5 million in tax credits
- Modifies tax credit calculation to provide 25% credit on eligible production expenditures (excluding resident wages) and 35% credit on resident cast and crew wages
- Establishes motion picture tax credit program operating fund to be funded by application fees and used for administering the Ohio film office and credit program
Legislative Description
To increase the maximum total amount of tax credits allowed per year for completion of motion pictures certified as tax credit-eligible productions.
Motion picture tax credit-increase total allowable credits
Last Action
To Ways & Means & Economic Development
5/10/2012
Full Bill Text
No bill text available