THE INCENTIVES PROGRAM - TIP

Senate Bill 704 proposes to establish the Florida Film, Television, and Digital Media Targeted Rebate Program. Details of the program are as follows:  
 

• Creates a rebate of up to twenty percent of qualified expenditures for projects that provide the highest return on investment and economic benefit to the state;
• An additional three percent may be earned (for a total not to exceed 23%) if 75% of the project’s production in Florida takes place in an underutilized area or if its content is deemed “family friendly”;
• Qualifies expenditures incurred in Florida as well as the 1^st $200,000 paid to each resident;
• Establishes a per project incentive cap of two million dollars;
• Requirements:
  • Project must have a minimum spend of:
    • At least $1.5 million in qualified production expenditures for a qualifying film or digital media project; or,
    • At least $500,000 per episode in qualified production expenditures for a television project;
      • For TV series, has a minimum of 7 episodes;
      • For a reality program or series, has at least 10 episodes;
  • Project that at least 60% of the cast and crew, including stand-ins but not extras, will be made up of Florida residents;
  • At least one member of the cast and crew must be a military veteran;
  • Project to spend at least 70% of its production days in Florida;
  • Provide the results of an audit of qualified production expenditures performed by an independent certified public accountant that is a resident of Florida;
  • Production company must not receive a sales tax exemption certificate;
  • Begin principal photography in Florida within the period beginning 30 days before and ending 90 days after the project’s listed production start date;
  • Include “Filmed in Florida” or “Produced in Florida” logo in the end credits;
  • Must make a good faith effort to use in-state providers and employ cast and crew who are residents of Florida; and,
• Establishes a sunset date of June 30, 2025.

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House Bill 1174 and Senate Bill 921 propose to amend the Hawaii Motion Picture, Digital Media, and Film Production Income Tax Credit program as follows:  
 

• Reduces the state annual funding cap from $50 million to $45 million per calendar year;
• Amends the per project incentive cap from $15 million per project to $12 million per taxable year;
• Limits the amount of above-the-line costs used to claim a credit for a qualified production to $2 million per taxable year;
• Requires qualified productions claiming a credit greater than $5 million to provide evidence that at least 75 per cent of production was filmed in Hawaii;
• Requires that a qualified production claiming credits in an aggregate amount in excess of $15 million in two taxable years and claiming above-the-line costs in excess of $3 million during the same period, enter into an agreement to provide Hawaii with 0.25 per cent of all worldwide gross revenues of the qualified production;
• Reduces the minimum spend requirement from $200,000 to $50,000;
• Defines a “qualified vendor” as:
  • An entity incorporated or organized in Hawaii for no less than five years; and,
  • All principals of the entity are state income taxpayers; and,
• Extends the sunset date from December 31, 2025 to December 31, 2032.

  If passed, the Act shall take effect immediately.

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House Bill 637 proposes to amend the Hawaii Motion Picture, Digital Media, and Film Production Income Tax Credit program as follows:  
 

• Reduces the per project incentive cap to $12.5 million, previously $15 million; and,
• Reduces the annual funding cap to $45 million per calendar year, previously $50 million.

  If passed, the Act shall take effect July 1, 2021.

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House Bill 843 proposes to amend the Hawaii Motion Picture, Digital Media, and Film Production Income Tax Credit program as follows:  
 

• Extends the sunset to December 31, 2035, previously December 31, 2025.

  If passed, the Act shall take effect July 1, 2021.

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House Bill 845 proposes to amend the Hawaii Motion Picture, Digital Media, and Film Production Income Tax Credit program as follows:  
 

• Eliminates the per project incentive cap, previously $15 million; and,
• Eliminates the annual funding cap, previously $50 million.

  If passed, the Act shall take effect immediately.

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House Bill 846 proposes to amend the Hawaii Motion Picture, Digital Media, and Film Production Income Tax Credit program as follows:  
 

• Eliminates the per project incentive cap, previously $15 million; and,
• Increases the annual funding cap to $110 million per calendar year, previously $50 million.

  If passed, the Act shall take effect immediately.

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Senate Bill 367 proposes to establish the Show Missouri Film and Digital Media Act. Details of the program are as follows:  
 

• Creates a transferable tax credit equal to:
  • 25% of “qualifying in-state” costs including resident labor:
    • Does not include any amounts paid to a resident earning more than $250,000 in compensation and wages;
  • 10% on nonresident labor:
    • Does not include any amounts paid to a nonresident earning more than $250,000 in compensation and wages;
  • Allows for an additional credit of 5% on all qualified spend if at least 50% of the qualified film production is filmed Missouri;
  • Allows an additional credit of 5% on all qualified spend if the Department of Economic Development (DEcD) determines the script positively markets a city or region of Missouri, the entire state, or a tourist attraction located in the state;
• Establishes an annual funding cap of $4.5 million per calendar year;
• Project requirements:
  • Minimum spend of:
    • More than $50,000 for projects with a run-time of less than 30 minutes;
    • More than $100,000 for projects with a run-time of more than 30 minutes;
  • Include an end credit logo provided by the DEcD;
  • Limits a production company to one qualified film production project per year; and,
• Establishes a sunset date of December 31, 2027.

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Assembly Bill 3009 and Senate Bill 2509 propose to amend the Empire State Film Production Tax Credit program as follows:  
 

• Extends the sunset date and funding of the program from December 31, 2025 to December 31, 2026; and,
• Requires that a television pilot that applies on or after April 1, 2021 have a minimum budget as follows:
  • $1 million if the majority of shooting days are in Westchester, Rockland, Nassau, or Suffolk county, or within the five New York City boroughs; or,
  • $250,000 if the majority of shooting days takes place in any other county within New York.

  If passed, the Act shall take effect immediately.

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Senate Bill 43 proposes to extend the sunset date of the labor rebate thru December 31, 2029.

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Senate Bill 167 proposes to amend the Utah Motion Picture rebate program as follows:  
 

• Increases the annual state funding cap to $15 million per fiscal year (7/1 – 6/30), previously $6.79 million.

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