Signed by Governor Brian Sandoval

Vote Smart's Synopsis:

Vote to pass a bill that authorizes a film producer to receive tax credits for film productions in Nevada.

Highlights:

• Authorizes a producer of a film production that is produced in Nevada to apply to the Office of Economic Development for tax credits on or before December 31, 2017 if the producer meets certain criteria including, but not limited to, the following criteria (Sec. 8):
• The producer provides proof that the production is in the economic interest of the state; 
• The producer provides proof that at least 60 percent of the total production expenditures will be incurred in the state; and
• The producer shows that the production incurred expenditures in the state of at least $500,000. 

• Specifies that the producer tax credits equal 15 percent of the total productions expenditures (Sec. 10).
  
  
• Limits the amount for tax credits a producer is authorized to receive to $6 million, and specifies that the tax credits expire 4 years after issuance (Sec. 12). 

• Limits the amount the Office is authorized to appropriate for producer tax credits to $20 million for each fiscal year, and specifies that if the Office does not approve $20 million in any fiscal year, the remaining amount will be made available for producer tax credits for the immediately following 2 fiscal years (Sec. 12).

• Authorizes the governing body of a city or county to grant to a producer of a qualified production a reduction of any percentage of the amount of any permitting fee or licensing fee which the local government is authorized to require (Sec. 15.5).

Full Bill Text