Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Producers, Local Companies Oppose Proposal to Cut Connecticut Film Tax Credit
Summary
Industry representatives and Connecticut production companies told the Finance, Revenue and Bonding Committee cutting the state's film, television and digital media tax credit from 30% to 25% would make the state less competitive, reduce jobs and curb recent industry growth.
Industry representatives and Connecticut-based production companies urged the Finance, Revenue and Bonding Committee on Oct. 27 to reject a proposal in Senate Bill 1246 that would reduce the state's film, television and digital media tax credit from 30% to 25%.
Brian O'Leary, tax counsel for the Motion Picture Association, told the committee that Connecticut's 30% credit is at the national and international average and that lowering it would put the state at a competitive disadvantage. "We respectfully ask that no more changes are made to this program this year. Let the program continue to succeed on its current terms," O'Leary said.
The industry witnesses described recent growth in Connecticut's production sector and tied company relocations and payrolls directly to the tax credit. Laura Palumbo Johnson, co-owner of Megillah Entertainment, said her production company relocated to Stamford because of the digital media tax credit and estimated the company incurred $4.9 million in…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
