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

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).

MIKE HAMMANN

Amendments