Tuesday, March 11, 2008

Help bring Film and Television Production to Kentucky!

Please contact your legislators and tell them to support HB 756, the Incentives for Film Production Act.
AN ACT relating to the expansion of the film industry in Kentucky and declaring an emergency.

Create new sections of KRS Chapter 148 to provide individual income tax, corporation income tax, limited liability entity tax, and sales tax incentives for locating a film production facility in Kentucky or filming or producing a motion picture production in Kentucky; define terms; establish qualifications including minimum capital investment and minimum qualifying expenditures and minimum qualifying payroll expenditures, application and reporting requirements; require the Kentucky Film Office to administer the incentive program; authorize the Kentucky Film Office to enter into a film industry tax incentive agreement; authorize the promulgation of administrative regulations by the Kentucky Film Office and the Department of Revenue; create a new section of KRS 141 to create a motion picture film production nonrefundable credits for a new film production facility or renovation of an existing structure to become a film production facility and a motion picture production that is filmed or produced in Kentucky against the tax imposed under KRS 141.020 or 141.040 and KRS 141.0401, allow credit to be carried forward 3 years; amend KRS 141.0205 to establish the order in which the credits may be taken; create a new section of KRS 139 to provide refund of the sales and use tax paid on the purchase of tangible personal property that is permanently incorporated into a film production facility or is used to equip the film production facility; provide for a refund of the sales and use tax paid by an approved company on qualifying expenditures if used in the filming or production of a motion picture production in Kentucky; amend KRS 139.5381, 139.5382,139.5383, 139.5384, and 139.5385 to apply prior to January 1, 2009; EMERGENCY.
For more information on this bill and what you can do to help, please point your browser to Lights...Camera...KENTUCKY.
Lights...Camera...Kentucky, Inc., is a broad coalition of companies, associations and individuals interested in creating a sustainable and profitable motion picture industry in Kentucky. It is our goal to build the infrastructure, workforce and economic climate necessary to create an industry that brings new jobs and new revenues to the Commonwealth of Kentucky.

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