Bill > HB3921

This bill introduces a new tax credit program for qualifying entertainment industry expenditures in Oklahoma, including film production projects and television episode production projects. The key provisions are: - Establishes a base credit of 25% of qualifying expenditures, with additional credits of up to 6% for meeting certain criteria (e.g. using Oklahoma music, soundstages, sustainability plans). - Provides an additional 15% credit for expenditures on nonresident compensation. - Caps the total annual tax credits at $50 million, with individual project caps of $7 million for films and $1.2 million for TV episodes. - Allows the credits to be transferred to subsequent owners. - Renames the existing "Compete with Canada Film Act" to the "Oklahoma Film and Television Production Incentive Program". The goal of this bill is to incentivize film and television production in Oklahoma by offering competitive tax credits to production companies, in order to grow the state's entertainment industry.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb3921&Session=2000