Signed by Governor Mike Parson

Vote Smart's Synopsis:

Vote to pass a bill that establishes film and music tax credits equal to 20% of qualifying film and music production expenses.

Highlights:

• Establishes this act as the “Show MO Act” (Sec. 1).

• Defines terms related to Film-making and expenses related to that (Sec. 1). 

• Establishes that for every year after January 1st 2023, a taxpayer shall be entitled to a tax credit equal to 20% for qualifying expenses related to the films industry (Sec. 1).

• Authorizes another 5% credit if at least 50% is filmed in Missouri (Sec. 1).

• Authorizes another 5% credit if the filming takes place in rural or blighted areas (Sec. 1). 

• Authorizes another additional 5% if the crew hires Missouri Residents (Sec. 1).

• Authorizes another 5% if the script reflects positively on the state (Sec. 1).

• Specifies that additional tax credits will not apply unless the production hires Missouri Apprentices or veterans as determined by the cost of the qualifying expenses (Sec. 1). 

• Specifies that applications require a certification that the prerequisites are met (Sec. 1). 

• Defines the tax credit as a business recruitment tax credit (Sec. 1).

• Authorizes the department to promulgate rules and requirements for the purposes of provision of tax credits for film productions (Sec. 1).

• Specifies that this act shall not be construed to in any way limit the ability of any taxpayer who has met the requirements (Sec. 1).

• Defines filmmaking terms and specific terms related to the department (Sec. 1).

• Specifies that similar credits apply to rehearsal spaces as well (Sec. 1).

Full Bill Text