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Tax committee hears amended Kansas film tax-credit bill with caps on exemptions and credits
Summary
Senate Bill 52, the Senateversion of the Kansas Film and Digital Media Production and Development Act, was heard with the Senate amendment adding a $1 million per-production-company sales-tax-exemption cap and reducing the credit pool to $5 million per year.
The Committee on Taxation heard Senate Bill 52, the Senate version of the Kansas Film and Digital Media Production and Development Act, which includes tax credits and a sales tax exemption for production costs. The Senate amendment added limits to both elements: a $1,000,000 annual cap on the sales tax exemption per production company (including contractors) and a reduction of the annual pool of transferable tax credits from $10,000,000 to $5,000,000.
Why it matters: The bill is intended to attract film and digital media production to Kansas by offering tax incentives. The changes adopted in the Senate narrow the fiscal exposure of the incentives by capping the sales tax exemption and halving the…
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