| CAST & CREW ENTERTAINMENT SERVICES |
THURSDAY, MAY 18, 2017
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Cast & Crew Financial Services
offers both U.S. and Canadian production incentive management services from setup to audit, as well as production incentive financing.
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In this Issue
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Oregon (H 2244)
On May 15, 2017, Governor Kate Brown signed House Bill 2244 which amends the
Greenlight Oregon Labor Rebate (GOLR) program
as follows:
- Authorizes the film office to deduct up to 1% from an issued rebate for costs related to its workforce development and educational efforts; and,
- Extends the sunset date of the GOLR from December 31, 2017 to December 31, 2023.
The law becomes effective January 1, 2018.
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Hawaii (
H 423)
House Bill 423 proposes to amend the motion picture, digital media, and film production tax credit. Highlights of the revisions are outlined below:
- Where goods or services are obtained from out of state, requires the taxpayer to provide evidence that it was unsuccessful to secure comparable items within Hawaii;
- Requires a taxpayer to submit a verification review prepared by a qualified CPA using state-prescribed procedures in order to obtain a credit;
- Institutes an annual funding cap equal to $35 million and provides that any amount claimed in excess of such cap shall be claimed in the following year; and,
- Extends the sunset date from December 31, 2018 to December 31, 2025.
If signed, the law would take effect December 31, 2018 and apply to taxable years beginning after that date.
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PROPOSED LEGISLATION
Still in the House or Senate
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California (AB 1300)
Assembly Bill 1300 proposes to modify the credit available for music scoring and recording as follows:
- Eliminates the additional 5% credit currently available for qualified expenditures relating to music scoring and music track recording attributable to a California production;
- Creates a credit equal to 30% of postproduction music scoring or recording expenses provided:
- The project is filmed outside of North America;
- 35 or more scoring or recording musicians are employed; and,
- At least 75% of the postproduction music or scoring occurs within California;
- Creates a credit equal to 25% of postproduction music scoring or recording expenses provided:
- The total budget does not exceed $5 million;
- Nine or more scoring or recording musicians are employed; and,
- At least 75% of the postproduction music or scoring occurs within California;
- Limits qualified expenditures to wages subject to California withholding, benefits, and payroll expenses paid to or on behalf of certain music-related positions employed on the project; and,
- Prohibits postproduction music scoring or recording expenses receiving a credit above from being eligible for any other film or television credit.
If approved, the law would take effect immediately.
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Illinois (S 852)
Senate Bill 852 proposes to extend the sunset date from May 6, 2021 to December 31, 2026.
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Maine (H 1088)
House Bill 1088 proposes to repeal the visual media production tax credit for tax year beginning on or after January 1, 2017.
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New York (S 5911)
Senate Bill 5911
proposes to add Rockland County to the list of those counties eligible for an additional 10% credit on below-the-line salaries and wages. If enacted, the law would take effect immediately.
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Production Incentives
Joe Bessacini
Vice President, Film & TV Production Incentives
818-480-4427
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Deirdre Owens
Vice President, Production Incentive Financing
818-972-3201
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