Referred to Committee
March 4, 2009
March 3, 2009(Key vote)
Title: Transferable Tax Credit for Film Production
Vote Smart's Synopsis:
A vote to pass a bill that authorizes a nonrefundable income tax credit for individuals and pass-through entity owners who invest money in motion picture production in Ohio before 2014.
-Authorizes a transferable, nonrefundable income tax credit for those who invest money in a motion picture production certified by the Director of Development as a tax credit eligible production (Sec. 1).
-Requires that the credit amount be determined based on investment and eligible production expenditures (Sec.1).
-Prohibits tax credits for an investment $300,000 or less (Sec. 1).
- Authorizes that up to $100 million in tax credit certificates may be issued per year, but not more than $25 million in tax credit certificates may be issued in one production (Sec 1).
-Prohibits tax credits for productions such as: news, weather, financial market reports, sports, award shows, political advocacy productions, fundraising production, sexually explicit production, and productions produced by a motion picture company or person in default on a loan granted by the state (Sec. 1).