Bill Summary

by Diaz, Raschein Co Sponsors: Boyd, Campbell, Castor Dentel, Combee, Cruz, Davis, Diaz (J), Dudley, Fullwood, Gibbons, Hood, Hutson, Jones (M), La Rosa, Moraitis, Nunez, Perry, Rehwinkel Vasilinda, Santiago, Smith (J), Stewart

Entertainment Industry Financial Incentive Program: Revises purpose of program; revises application requirements & approval procedure for tax credits; requires certified productions to notify Office of Film & Entertainment of changes to certain production circumstances; requires office to deem certain tax credit awards denied & applications withdrawn; authorizes office to approve adjusted tax credit awards under certain circumstances; provides that certified production is not entitled to tax credit award unless certified production's actual qualified expenditures have been verified by office & approved by DEO; specifies period in which certified production must submit qualifying expenditure data to office; revises criteria for determining priority for tax credits; revises tax credit eligibility; provides tax credit for certain qualified productions that complete certain promotional activities; authorizes credit allocations for specified fiscal years; revises program repeal provisions. Effective Date: July 1, 2014

» H Economic Development & Tourism Subcommittee
   H Finance & Tax Subcommittee
   H Economic Affairs Committee