Bipartisan legislation creating a tax credit for qualified productions in Michigan was reported by the House Economic and Small Business Committee this week.
“These pro-job bills are designed to diversify our state economy by investing in our workforce and help us compete with states that already provide incentives, leading to a stronger Michigan,” said Alexander Page of the Michigan Film Industry Association (an MLC client), a strong advocate for the bills.
Key Points:
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- House Bills 4907 and 4908 were introduced by Representatives Jason Hoskins (D-Southfield) and John Roth(R-Interlochen).
- Qualified productions include films, television shows, and commercials, among others.
- The amount of the credit changes based on certain factors such as the use of approved logos, the number of Michigan residents hired for the production, and the use of a Michigan vendor.
- Currently, at least 37 states, Washington D.C., Puerto Rico, and the U.S. Virgin Islands, offer a film tax credit incentive.
Next Step:
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- The bills were referred to the House floor for consideration.
