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House Co-Sponsorship Memoranda
House of Representatives
Session of 2017 - 2018
Regular Session
MEMORANDUM
| Posted: | May 31, 2017 10:17 AM |
|---|---|
| From: | Representative Brian L. Ellis |
| To: | All House members |
| Subject: | Funding for Entertainment Tax Credits |
| I am planning on introducing legislation to amend the manner in which our Entertainment Tax Credits are funded. Currently, each fiscal year, we determine by legislation, the amount of funding the Film Production Tax Credit, the Concert Rehearsal and Tour Tax Credit and the Video Game Production Tax credit will receive. These amounts and vary from year to year and are inconsistent; thus these industries are unsure of what they will receive, making it difficult to attract new business and new productions. My legislation will amend the Tax Code to consolidate this funding into one source; giving each of the tax credits a certain percentage of that funding. Specifically, under my legislation, the Film Production Tax Credit will receive 80%, Concert Rehearsal will receive 10% and Video Game will receive 10%. If the money is not used from one of the tax credits, the remaining money may be used for the other tax credits. My legislation also provides for an additional credit for “qualified Pennsylvania production companies” to incentivize production companies in PA to continue to grow their businesses to make the Commonwealth a hub for entertainment production. I hope you will join me in sponsoring this legislation. |
Introduced as HB1484