| Last Action | recommitted to Appropriations & Revenue (H) |
|---|---|
| Title | AN ACT relating to the expansion of the film industry in Kentucky and declaring an emergency. |
| Bill Documents |
Bill
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| Bill Request Number | 1178 |
| Sponsors | T. Thompson, L. Napier, S. Brinkman, D. Butler, L. Combs, M. Denham, B. DeWeese, T. Edmonds, J. Glenn, J. Greer, M. Marzian, D. Osborne, T. Pullin, C. Siler, G. Stumbo, J. Tilley, S. Westrom |
| Summary of Original Version | Create new sections of KRS Chapter 148 to provide individual income tax, corporation income tax, limited liability entity tax, and sales tax incentives for locating a film production facility in Kentucky or filming or producing a motion picture production in Kentucky; define terms; establish qualifications including minimum capital investment and minimum qualifying expenditures and minimum qualifying payroll expenditures, application and reporting requirements; require the Kentucky Film Office to administer the incentive program; authorize the Kentucky Film Office to enter into a film industry tax incentive agreement; authorize the promulgation of administrative regulations by the Kentucky Film Office and the Department of Revenue; create a new section of KRS 141 to create a motion picture film production nonrefundable credits for a new film production facility or renovation of an existing structure to become a film production facility and a motion picture production that is filmed or produced in Kentucky against the tax imposed under KRS 141.020 or 141.040 and KRS 141.0401, allow credit to be carried forward 3 years; amend KRS 141.0205 to establish the order in which the credits may be taken; create a new section of KRS 139 to provide refund of the sales and use tax paid on the purchase of tangible personal property that is permanently incorporated into a film production facility or is used to equip the film production facility; provide for a refund of the sales and use tax paid by an approved company on qualifying expenditures if used in the filming or production of a motion picture production in Kentucky; amend KRS 139.5381, 139.5382,139.5383, 139.5384, and 139.5385 to apply prior to January 1, 2009; EMERGENCY. |
| Index Headings of Original Version |
Economic Development - Film industry, tax incentives, provide Tourism - Film industry, tax incentives, provide Taxation - Film industry, tax incentives, provide Taxation, Income--Corporate - Film industry, tax incentives, provide Taxation, Income--Individual - Film industry, tax incentives, provide Taxation, Sales and Use - Film industry, tax incentives, provide |
| Proposed Amendments | House Committee Substitute 1 |
| 03/04/08 |
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|---|---|
| 03/05/08 |
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| 03/17/08 |
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| 03/26/08 |
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| 03/27/08 |
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| 04/14/08 |
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| Amendment | House Committee Substitute 1 |
|---|---|
| Impact Statements | Fiscal Note |
| Summary | Make technical corrections. |
| Index Headings |
Economic Development - Film industry, tax incentives, provide Tourism - Film industry, tax incentives, provide Taxation - Film industry, tax incentives, provide Taxation, Income--Corporate - Film industry, tax incentives, provide Taxation, Income--Individual - Film industry, tax incentives, provide Taxation, Sales and Use - Film industry, tax incentives, provide |
Last updated: 8/28/2019 8:09 AM (EDT)