|Posted:||May 4, 2018 12:34 PM|
|From:||Senator Vincent J. Hughes|
|To:||All Senate members|
|Subject:||Adding purchase of music and story rights to qualified postproduction expenses within the film tax credit|
|In the near future, I intend to introduce legislation to update the listing of qualified post production expenses for the film production tax credit program to include the purchase of music and story rights.
Act 84 of 2016 outlined the qualified expenses for both production and post-production expenses within the Film Tax Credit. The term “purchase of music and story rights” was included as a qualified production expense when occurring at a qualified facility, but nothing for music rights was included for post-production expenses.
After talking with Pennsylvania-based businesses that assist movie production companies with securing music rights, it became apparent that it would be advantageous to our local businesses and the film production tax credit if this interaction was also included as a qualified post production expense.
If music rights are not included in the qualified post production expenses there is a reduced incentive to use a Pennsylvania based music company. It also reduces the amount of Pennsylvania post-production expenses a production can claim and ultimately reduces their tax credit eligibility.
I hope you will join me in co-sponsoring this legislation.
Introduced as SB1183