Cast & Crew's The Incentive Program (TIP) Update

Cast & Crew Financial Services (CCFS) offers both U.S. and Canadian production incentive management services from setup to audit, as well and production incentive financing and completion bonds.

ENACTED LEGISLATION

Signed by the Governor

Illinois (S 1595)

On August 1, 2019, Governor J.B. Pritzker signed Senate Bill 1595 which amends the Illinois Film Production Services Tax Credit Program as follows:

Extends the sunset date to December 31, 2026, previously May 6, 2021.

Ohio (H 166)

On July 18, 2019, Governor Mike DeWine signed House Bill 166 which amends the Ohio Motion Picture Tax Credit program as follows:

Maintains the annual funding cap at $40 million per fiscal year (July 1 through June 30);
Eliminates the option to transfer film tax credits issued to a qualified production company to another entity. To the extent the tax credit exceeds the production company’s tax liability, the excess will be refunded;
Requires the program’s director to review and approve applications in two rounds each fiscal year. The first round of credits shall be awarded no later than the last day of July of the fiscal year, and the second round of credits shall be awarded not later than the last day of the ensuing January;

The amount of credits awarded in the first round each fiscal year shall not exceed $20 million plus any credits not awarded in the prior fiscal year;

Changes the incentive program from a first-come, first-served program to one where the program’s director will rank applications based on the positive economic impact each production is likely to have in the state and the effect on developing a permanent production workforce in the state; and,
Adds Broadway theatrical productions to the list of qualifying projects and renames the program to “Motion Picture and Broadway Theatrical Production Tax Credit” program.

PROPOSED LEGISLATION

Still in the House or Senate

Pennsylvania (S 816)

Senate Bill 816 proposes to amend the Pennsylvania film production tax credit as follows:

Removes the annual funding cap of $65 million per fiscal year (7/1–6/30).

If passed, the Act shall take effect July 1, 2019.

FUNDS REMAINING

As of August 2019

DOMESTIC

Alabama – No funds available. $20 million becomes available on October 1, 2019.
Arkansas – No cap.
California – Approx. $58 million (non-indie) and $8 million (indie) are available for the next application period beginning October 2019.
Connecticut – No cap.
Georgia – No cap.
Illinois – No cap.
Kentucky – Approx. $99 million is available through December 31, 2019.
Louisiana – Approx. $19.3 million (non-indies) and $10.8 million (indies) are available out of the 2021-2022 fiscal year funds.
Jefferson Parish, LA – Approx. $250K is available through December 31, 2019.
Shreveport, LA – No cap.
Maine – No cap.
Massachusetts – No cap.
Minnesota – $500k becomes available on September 1, 2019.
Mississippi – Approx. $19 million is available through June 30, 2020.
Montana – Approx. $10 million is available through December 31, 2019.
Nevada – Approx. $20 million is available through June 30, 2020.
New Mexico – Approx. $110 million is available through June 31, 2020.
South Carolina – No funds available through June 30, 2020. $15.5 million becomes available July 1, 2020.
San Antonio, TX – Approx. $900k is available through September 30, 2019. Additional funds may be available on a per project basis.
U.S. Virgin Islands – Approx. $2.5 million is available through December 31, 2019.
Washington – No funds remaining. $3.5 million becomes available on January 1, 2019.

*These numbers are estimates and are subject to change. For jurisdictions not listed, please contact the appropriate film office for details.

FOREIGN

Australia – No cap.
Canada (federal) – No cap.
Alberta, CAN – No cap.
British Columbia, CAN – No cap.
Manitoba, CAN – No cap.
Newfoundland & Labrador, CAN – No cap.
Northwest Territories, CAN – Approx. CAD 75,000 is available through March 31, 2020.
Nova Scotia, CAN – Approx. CAD 7.39 million is available through March 31, 2020.
Ontario, CAN – No cap.
Quebec, CAN – No cap.
Yukon, CAN – No cap.
Dominican Republic – No cap.
France – No cap.
Georgia (int.) – No cap.
Hungary – Approx. HUF 17 billion (USD 58.6 million) is available through December 31, 2019.
New Zealand – No cap.
South Africa – No cap.
United Kingdom – No cap.