Saturday, April 09, 2005

HB 983: Film Production Tax Credits

H.B. 983, P.N. 1118 (T. STEVENSON) This would amend the Tax Reform Code, Act 2 of 1971, P.L. 6.
The Community and Economic Development Department would review and determine whether to approve applications for tax credits for up to 20% of film production costs. Nor more than $10 million in such credit could be awarded per fiscal year.
The definition of “film” under this law would be amended to include a film intended for national audience programming, rather than a television show of 15 or more minutes in length as under current law, and would exclude a political film. The definition of “Pennsylvania production expense” would be defined to include only wages and salaries applicable to state taxes. The definition of a “production expense” for wages and salaries would apply only to an individual whose wages and salaries for a film were under $1 million nor would it include development costs or purchasing story rights.


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