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Committee approves referral of bill to raise certified film production tax-credit cap
Summary
House Bill 3329, which would increase the statutory cap on certified film production tax credits from $20 million to $28 million, was advanced by the committee to the House Committee on Revenue with a due-pass recommendation.
The House Committee on Economic Development, Small Business and Trade voted March 10 to move House Bill 3329 to the floor with a due-pass recommendation and to refer the bill to the House Committee on Revenue by prior reference. The bill would increase the allowable amount of tax credits for certified film production contributions from $20,000,000 to $28,000,000 and takes effect 90 days after adjournment sine die.
Committee staff described the measure as having a minimal fiscal impact and noted that a revenue impact statement will be completed in the House Committee on Revenue. Vice Chair Sigler moved the bill to the floor with a due-pass recommendation; the committee recorded no discussion and the clerk called the roll. The chair announced that the motion passed.
Because the measure changes the statutory cap on production tax credits and is referred to the revenue committee, any revenue estimates and final statutory language will be subject to review there before the House considers the bill on the floor.
