SB 541 Reauthorizes the film production tax credit and modifies provisions relating to it
Sponsor: Pearce
LR Number: 2406S.02I Fiscal Notes
Committee: Jobs, Economic Development and Local Government
Last Action: 3/10/2015 - Second Read and Referred S Jobs, Economic Development and Local Government Committee Journal Page: S532
Title: Calendar Position:
Effective Date: August 28, 2015

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Current Bill Summary

SB 541 - The film production tax credit sunset in 2013. This act reauthorizes the tax credit as of January 1, 2015.

Previously, if an individual was paid more than $1 million for a film project, such wages could not count as an expense towards receiving the tax credit. This act lower the compensation threshold to $250,000.

The act requires a statement or logo appear in the film's credits indicating that the project was filmed in Missouri to receive the tax credit.

Previously, projects were allowed a credit of up to 35% of the expenses spent in this state on the film. This act allows a credit equal to 20% of the instate expenses and 20% of the out-of-state expenses. These amounts may be raised by 5% if at least 50% of the project is filmed in Missouri. Out-of-state expense are defined as wages paid to non-Missouri residents for work in this state.

The tax credit will sunset November 28, 2021.

This act is substantially similar to HB 803 (2015).