| Last Action | 02/23/23: to Appropriations & Revenue (H) |
|---|---|
| Title | AN ACT relating to tax incentives for continuous film production projects. |
| Bill Documents | Introduced |
| Bill Request Number | 1068 |
| Sponsor | M. Lockett |
| Summary of Original Version | Amend KRS 154.61-010, 154.61-020, and 141.383 to establish a continuous film production aspect of the film industry and motion picture tax credit; cap continuous film production tax incentives at $25 million for calendar year 2024 and each calendar year thereafter; require credit amount to be equal to 35% of approved company's qualifying expenditures and qualifying payroll expenditures that are paid to production crew that are not residents increase credit to 40% if qualifying payroll expenditures are paid to residents; create new section of Subchapter 61 of KRS Chapter 154 to allow recapture of the enhanced film production incentives if the approved company fails to meet the biennial budget requirement of $20 million on all film productions in the Commonwealth. |
| Index Headings of Original Version |
Taxation - Film industry tax credit, continuous film productions Taxation, Income--Corporate - Continuous film production, tax credit Taxation, Income--Individual - Continuous film production, tax credit Economic Development - Film industry tax credit, continuous film productions |
| 02/22/23 |
|
|---|---|
| 02/23/23 |
|
Last updated: 11/9/2023 3:03 PM (EST)