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  • NJ A2256
  • Establishes the New Jersey Film and Television Project and Employment Incentive Program.
Introduced
(1/27/2016)
In Committee
(1/30/2017)
Crossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill establishes the New Jersey Film and Television Project and Employment Incentive Program. The purpose of this bill is to encourage more nationally distributed film and television productions to work from New Jersey. The bill's New Jersey Film and Television Project and Employment Incentive Program provides a 25 percent credit for qualified investment and labor costs associated with film and television projects working from New Jersey sets and studios. The refundable credits are available under either the Corporation Business Tax or Gross Income Tax. Creditable projects must have an annual or seasonal operating budget of at least $1,000,000 and derive at least one-half of creditable costs from studio activity. Additionally, creditable projects must be nationally distributed and operate from primary studios and fixed sets in New Jersey. Creditable costs do not include expenses for actors, producers, writers, or directors. Credits are not authorized for costs included in the calculation of another State tax credit or grant. The bill caps the maximum amount of New Jersey Film and Television Project and Employment Incentive Program credits to be awarded per State fiscal year to $30,000,000. At least one-third of the credits allowed annually must be issued to projects in counties with the following indicators of insufficient economic activity: a percentage of persons below the poverty level of no less than eight percent, per capita annual money income of $35,000 or less, and annual retail sales not exceeding $6,000,000,000. Based on the most recent data, the one-third floor allocation of credit amounts for counties with indicators of insufficient economic activity would cover Atlantic, Camden, Cape May, Cumberland, Gloucester, and Salem. The bill schedules the New Jersey Film and Television Project and Employment Incentive Program to apply to tax years beginning on or after the date of enactment. Credits allowed are to be applied to taxpayer liability for the second tax year beginning after a creditable project investment and labor demand commences.
2nd Reading in the Assembly, Commerce and Economic Development
Reported out of Assembly Comm. with Amendments, 2nd Reading  (on 1/30/2017)
 
 

Date Chamber Action Description
1/30/2017 Assembly Appropriations Hearing (19:00 1/30/2017 A-4352 pending referral)
1/30/2017 A Reported out of Assembly Comm. with Amendments, 2nd Reading
1/30/2017 Assembly Appropriations Hearing (13:00 1/30/2017 Committee Room 11, 4th Floor)
10/27/2016 A Reported out of Asm. Comm. with Amendments, and Referred to Assembly Appropriations Committee
10/27/2016 Assembly Commerce and Economic Development Hearing (13:00 10/27/2016 Committee Room 16, 4th Floor)
1/27/2016 A Introduced, Referred to Assembly Commerce and Economic Development Committee
Date Motion Yea Nay Other
Detail 1/30/2017 Assembly Appropriations Committee: Reported with Amendments 10 1 0
Detail 10/27/2016 Assembly Commerce and Economic Development Committee: Reported with Amendments 7 0 5