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Key Votes

S 122 - Authorizes Tax Credits for Film Production - New Jersey Key Vote

Timeline

Issues Related to S 122

Stage Details

Legislation - Concurrence Vote Passed (Senate) (30-6) -

Title: Authorizes Tax Credits for Film Production

Legislation - Vetoed (Conditional Veto) (Executive) -

Title: Authorizes Tax Credits for Film Production

Legislation - Concurrence Vote Passed (Senate) (31-3) -

Title: Authorizes Tax Credits for Film Production

Vote Smart's Synopsis:

Vote to concur with Assembly amendments and pass a bill that establishes a 5-year tax credit program for film and digital media production expenses incurred in New Jersey.

Highlights:

 

  • Authorizes for each fiscal year from 2019 through 2023 no more than $75 million in tax credits for qualified film production expenses and no more than $10 million in tax credits for qualified digital media content production expenses (Sec. 1).

  • Specifies that if a taxpayer’s total film production expenses exceed $1 million in any given tax year, they qualify for the film production credit so long as the film includes content that promotes New Jersey as a entertainment production destination (Sec. 1).

  • Specifies that for lower budget film productions, the following conditions are required in order to qualify for the film production credit (Sec. 1):

    • The film includes, at no cost to the State, marketing materials promoting New Jersey as a film and entertainment production destination; and

    • At least 60% of the production expenses, exclusive of post-production costs, are incurred for services performed and goods purchased through New Jersey  vendors.

  • Requires the following conditions to be met to qualify for the digital media content production credit (Sec. 1):

    • At least $2 million in production expenses are incurred for services performed and goods purchased through New Jersey vendors; and

    • At least 50% of the production expenses are for wages and salaries paid to full-time or full-time equivalent employees residing in New Jersey.

Legislation - Bill Passed With Amendment (House) (59-14) - (Key vote)
See How Your Politicians Voted

Title: Authorizes Tax Credits for Film Production

Vote Result
Yea Votes
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Vote Smart's Synopsis:

Vote to pass with amendment a bill that establishes a 5-year tax credit program for film and digital media production expenses incurred in New Jersey.

Highlights:

 

  • Authorizes for each fiscal year from 2019 through 2023 no more than $75 million in tax credits for qualified film production expenses and no more than $10 million in tax credits for qualified digital media content production expenses (Sec. 1).

  • Specifies that if a taxpayer’s total film production expenses exceed $1 million in any given tax year, they qualify for the film production credit so long as the film includes content that promotes New Jersey as a entertainment production destination (Sec. 1).

  • Specifies that for lower budget film productions, the following conditions are required in order to qualify for the film production credit (Sec. 1):

    • The film includes, at no cost to the State, marketing materials promoting New Jersey as a film and entertainment production destination; and

    • At least 60% of the production expenses, exclusive of post-production costs, are incurred for services performed and goods purchased through New Jersey  vendors.

  • Requires the following conditions to be met to qualify for the digital media content production credit (Sec. 1):

    • At least $2 million in production expenses are incurred for services performed and goods purchased through New Jersey vendors; and

    • At least 50% of the production expenses are for wages and salaries paid to full-time or full-time equivalent employees residing in New Jersey.

Legislation - Bill Passed (Senate) (29-5) -

Title: Authorizes Tax Credits for Film Production

Legislation - Introduced (Senate) -

Title: Authorizes Tax Credits for Film Production

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