Motion picture production; increases percentage of company's qualifying expenses for tax credit. (SB46)

Introduced By

Sen. John Watkins (R-Midlothian)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Motion picture production tax credit. Increases the percentage of the production company's qualifying expenses that can be taken as a refundable credit from 15 to 20 percent and increases the alternative option of taking the percentage of such expenses if the production is filmed in an economically distressed area of the Commonwealth from 20 to 25 percent. The bill also increases the total amount of the credit that can be given to taxpayers for bienniums after the 2010-2012 biennium from $5 million to $25 million and establishes a sunset of January 1, 2024 for productions that use interactive media production. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
12/16/2013Prefiled and ordered printed; offered 01/08/14 14101906D
12/16/2013Referred to Committee on Finance
01/16/2014Impact statement from TAX (SB46)
01/21/2014Impact statement from TAX (SB46)
02/04/2014Stricken at request of Patron in Finance (17-Y 0-N) (see vote tally)