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CAST & CREW
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FEBRUARY 6, 2019
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Cast & Crew Financial Services (CCFS)
offers both U.S. and Canadian production incentive management services from setup to audit, as well as completion bond services and production incentive financing.
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LOOKING FOR
AN OLD NEWSLETTER?
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The Garden State's long-anticipated film incentive program returns by offering a tax credit of up to 37 percent. View Cast & Crew's State of the Month on New Jersey to learn more!
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ENACTED LEGISLATION
Signed by Mayor
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San Francisco, CA (Ordinance No. 244-18)
On October 26, 2018, Mayor London N. Breed signed Ordinance No. 244-18
which amends the San Francisco film incentive program as follows:
- Establishes a funding cap of $13 million thru 6/30/28; and,
- Extends the sunset date from June 30, 2019 to June 30, 2028.
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PROPOSED LEGISLATION
Still in House or Senate
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Senate Bill 526 proposes to establish the Florida Film, Television, and Digital Media Targeted Grant Program. Program details are as follows:
- Creates a grant program equal to 12% of total qualified expenditures;
- Qualifies the first $200,000 of wages and salaries for each resident as well as goods and services rented or leased by an in-state vendor;
- Provides for an additional bonus equal to 3% (up to a maximum of 15%) of total qualified expenditures if:
- 75% or more of the project's production will take place in an underutilized county; or,
- The content is deemed family friendly;
- Requires the production company to: see that at least 60% of cast and crew are Florida residents; spend 60% of the total budget in Florida; and, forfeit access to the state sales tax exemption;
- Requires the following minimum qualified expenditures to qualify:
- Film projects: at least $1.5 million;
- Television series: at least $500,000 per episode;
- Television pilot: at least $1 million; and,
- Digital media projects: at least $1.5 million;
- Creates a per project cap of $2 million;
- Creates two application windows, 1) the first five business days of July, and, 2) the first five business days of January;
- Requires "Filmed in Florida" logo or statement in the end credits;
- Requires an independent CPA to audit all qualified expenditures;
- Requires a compliance review by the Department of Economic Opportunity -the fee associated with this review shall be 0.5% of the total grant amount;
- Requires that projects be considered on a positive economic impact basis and not first-come, first-served; and,
- Establishes a sunset date of June 30, 2020.
These provisions shall take effect upon becoming law.
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House Bill 41 proposes to amend the Georgia film incentive program as follows:
- Amends the definition of "total aggregate payroll" to include an additional 5% uplift on the first $100,000 of each qualifying veteran's salary; and,
- Defines a "veteran" as an honorably discharged person of the armed forces after completing at least two years of active military duty.
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Together with
Media Guarantors, CCFS now offers full completion bond services and counsel. B
ringing unmatched experience, flexibility, security and responsiveness to filmmakers and productions.
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House Bill 540 proposes to amend the Motion Picture, Digital Media, and Film Production income tax credit as follows:
- Decreases the per project incentive cap from $15 million to $12.5 million; and,
- Increases the annual funding cap from $35 million to $45 million.
If signed, the Act shall take effect on July 1, 2019.
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House Bill 645 proposes to amend the Motion Picture, Digital Media, and Film Production income tax credit as follows:
- Defines a "qualified postproduction facility" as a film studio located in-state; and,
- Allows only post production costs that are performed at qualified postproduction facilities to qualify provided 75% or more of the postproduction activities are performed at qualified postproduction facilities.
If signed, the Act shall take effect on July 1, 2019.
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Senate Bill 2544 proposes to amend the Mississippi film incentive program as follows:
- Limits the base investment that is attributable to producers, directors, and/or cast to 45% of the total base investment;
- Provides a rebate equal to 20% of the first $3 million of payroll and fringes for each employee who is not a resident and whose wages are subject to MS income Tax Withholding Law;
- Increases the rebate from 30% to 35% of the first $3 million of payroll and fringes for each resident;
- Modifies the minimum spend thresholds as follows:
- Mississippi-based production companies must spend at least $50,000 in base investment; and
- Out-of-state production companies must spend at least $100,000 in base investment.
- Requires an audit from an approved list of third-party auditors or by the Department of Revenue (DOR);
- Requires production companies to submit a rebate request no later than 90 days after the completion of the project;
- Requires the DOR to issue a rebate within 45 business days if a third-party auditor is used or if the audit is performed by the DOR they must deliver the first review of the submission within 90 business days;
- Allows rebates to be assigned to a third-party if the third-party is a Mississippi entity; and,
- Establishes a sunset date of July 1, 2022.
If enacted, these changes will take effect July 1, 2019.
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Senate Bill 2603 proposes to amend the existing Mississippi film incentive program as follows:
- Establishes a rebate equal to 25% of salaries and wages for nonresident employees-up to $5 million of salaries in the aggregate-provided:
- The production company, or its owner, principal, member, production partner, independent contractor, director, or producer or subsidiary company:
- Is a resident of Mississippi;
- Has filed Mississippi income taxes during each of the three previous years; and,
- Has engaged in activities related to the production of at least two motion pictures in Mississippi;
If signed, these changes shall take effect July 1, 2019.
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Senate Bill 96 proposes to establish the film production incentive fund within the Department of Resources and Economic Development. The fund shall be comprised of public and private sector grants, gifts, and donations.
If enacted, the Act shall take effect 60 days after its passage.
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Senate Bill 2 proposes to amend the New Mexico film production tax credit program as follows:
- Eliminates the $50 million annual funding cap along with the tiered payout schedule;
- Replaces the calculation of how many "nonresident crew exceptions" may qualify by allowing up to 15% (20% if qualified below-the-line residents are not available) of the production's total New Mexico below-the-line crew budget (wages only) to be made up of nonresident wages which will qualify for a tax credit equal to 15%;
- Additionally:
- Eliminates the restrictions related to which nonresident job descriptions may qualify;
- Eliminates the additional 5% tax credit for features that meet a certain spend threshold and shoot a certain number of days at a qualified production facility;
- Continues to allow a standalone pilot or series (6 or more episodes) to earn an additional 5% of direct production expenditures; and,
- Requires a three-second static or animated state logo to be placed in the end credits, before the below-the-line crew crawl, for the life of a film.
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New York (A 1713) and (S 689)
If enacted, this Act shall take effect immediately.
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House Bill 2569 proposes to reinstate the West Virginia film incentive program which was repealed in 2018.
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FUNDS REMAINING AS OF JANUARY 2019:
Domestic Jurisdictions*
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Alabama - Approx. $7.4 million is available through 9/30/2019.
Arkansas - No cap.
San Francisco, CA - Approx. $1.37 million is available through 6/30/2019.
Colorado - No funds available.
Connecticut - No cap.
District of Columbia - Discretionary.
Miami-Dade, FL - Discretionary.
Sarasota County, FL - Approx. $230k through 9/30/2018.
Georgia - No cap.
Idaho - Program is currently not funded.
Illinois - No cap.
Kentucky - $100 million is currently available through 12/31/2019.
Louisiana - Approx. $14.5 million is available through 6/30/2019.
Jefferson Parish, LA - Approximately $750,000 is available through 12/31/2019.
Shreveport, LA - No cap.
Maine - No cap.
Maryland - No funds available through 6/30/2019.
Massachusetts - No cap.
Minnesota - No funds available through 6/30/2019.
Mississippi - $16.8 million is available through 6/30/2019.
Montana - Discretionary.
Nevada - Approx. $15 million available through 6/30/2019 (includes rollover funds).
North Carolina - $30 million is available through 6/30/2019.
Ohio - No funds available. $40 million becomes available 7/1/2019.
Rhode Island - $15 million became available 1/1/2019.
South Carolina - No funds available. $15.5 million becomes available 7/1/2019.
Tennessee - $8 million is available through 6/30/2019.
U.S. Virgin Islands - $2.5 million is available through 12/31/2019.
Washington - $3.5 million is currently available through 12/31/2019.
*For jurisdictions not listed, please contact the appropriate film office for details.
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IN THE NEWS
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Joe Bessacini
Vice President,
Film & TV Production Incentives
818.480.4427
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Fred Milstein
President & CEO,
Media Guarantors
424.307.1888
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Deirdre Owens
Vice President,
Production Incentive Financing
818.972.3201
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Scott Nicolaides
Senior Vice President,
Media Guarantors
424.307.1888
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