HB 169 Seitz, Brian
HB 169 -- TAX CREDITS FOR FILM PROJECTS
SPONSOR: Seitz
This bill establishes the "Missouri Entertainment Industry Investment Act" and the "Missouri Entertainment Industry Postproduction Investment Act".
Beginning January 1, 2024, this bill authorizes tax credits for any production company or qualified interactive entertainment production company and its affiliates, as such terms are defined in the bill.
The tax credits are available for production, interactive entertainment, and postproduction companies that create productions including:
(1) Featured films;
(2) Series;
(3) Pilots;
(4) Movies for television;
(5) Televised commercial advertisements;
(6) Music videos;
(7) Interactive entertainment; or
(8) Prereleased interactive games.
The production, interactive entertainment and postproduction companies must apply for the tax credit and must also meet multiple requirements as set out in the bill.
Companies can receive an additional percentage of tax credit if they include a qualified Missouri promotion which is a promotion of this state approved by the Film Commission and the Department of Economic Development. These promotions include things such as a link to the Missouri Division of Tourism's website on the project's web page or inclusion of a Missouri promotional logo designed by the Missouri Division of Tourism at the end of a film or video.
The amount of tax credits allowed under the Missouri Entertainment Industry Investment Act for qualified interactive entertainment production companies cannot exceed $12,500,000 for each tax year. The aggregate amount of tax credits allowed under the Missouri Entertainment Industry Postproduction Investment Act will be limited in one year to $10 million for postproduction companies and $1 million for smaller postproduction companies.
These provisions automatically sunset December 31st 6 years after the effective date of the bill.
This bill is similar to HCS HB 2099 (2022).