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OH SB331
Bill
Status
5/3/2012
Primary Sponsor
Kevin Bacon
Click for details
AI Summary
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Increases maximum annual tax credits for motion picture productions from $20 million to $40 million per fiscal biennium beginning July 1, 2011, with a maximum of $20 million allowed in the first year of each biennium
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Maintains the $5 million per-production cap on tax credits for individual motion picture projects
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Corrects "videogames" to "video games" and defines motion pictures to include various entertainment formats (films, TV series, documentaries, music videos, interactive games, commercials, and digital media)
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Requires motion picture companies to hire independent certified public accountants to verify eligible production expenditures before credits are issued
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Establishes a motion picture tax credit program operating fund to be supported by application fees and used to administer the film office and tax 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
Passed 3rd Consideration House
5/3/2012