THE INCENTIVES PROGRAM - TIP

House Bill 30 proposes to amend the Georgia Entertainment Industry Investment Act as follows:

• For projects “initially” certified by the Georgia Department of Economic Development (GDEcD) on or after January 1, 2022:
  • Requires a production company to submit a diversity plan to the Department of Revenue within three months of incurring its first qualified production expenditure; and,
  • The Department of Revenue has approved such diversity plan as meeting the requirements for diversity plans that shall be established by the department and verified that the production company met its goals, or that the production company made good faith efforts to meet such goals.

Assembly Bill 20 proposes to amend Nevada’s Transferrable Tax Credits for Film and Other Productions as follows:

• Eliminates the minimum episode requirement for reality television projects, previously six episodes were required;
• Allows qualified expenditures to be incurred prior to the date on which the applicant submits an application for the transferable tax credit;
• Requires an audit, performed by an in-state and pre-approved independent certified public accountant, be submitted not later than 270 days, previously 90 days, after the completion of principal photography or postproduction, if postproduction costs were incurred in-state;
  • At the discretion of the Office of Economic Development, a 90-day extension may be granted; and,
• Removes interstitial television programming and advertisement projects from the list of qualifying projects.

If passed, the Act becomes effective July 1, 2021.