On June 27, 2022, Governor Daniel McKee signed House Bill 7123
, modifying the Rhode Island motion picture production company tax credit and musical and theatrical production tax credits programs as follow:
Motion picture production company tax credit
- Increases the annual funding cap from $30 million for calendar year 2022 to $40 million for calendar year 2023 and $40 million for calendar year 2024;
Musical and theatrical production tax credit
- Amends the definition of “Pre-Broadway production” for purposes of musical and theatrical production tax credits to include live stage productions performed in qualified production facilities having a presentation scheduled for Broadway's theater district in New York City within thirty-six (36) months after its Rhode Island presentation rather than the previous period of twelve (12) months.
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