Bill > S4218

This bill revises certain provisions of the film and digital media content production tax credit program in New Jersey. The key provisions are: - Increases the tax credit percentages for qualified film production expenses and qualified digital media content production expenses for New Jersey studio partners and New Jersey film-lease production companies. - Establishes requirements and designations for "New Jersey studio partners" and "New Jersey film-lease partner facilities" to be eligible for higher tax credit percentages. - Expands the types of expenses that can qualify as "qualified film production expenses" and "qualified digital media content production expenses." - Increases the cumulative caps on the total value of tax credits that can be awarded to New Jersey studio partners, New Jersey film-lease production companies, and other taxpayers. - Allows for the reallocation of any unused tax credits across the different categories of eligible taxpayers. - Provides additional funding for tax credits to New Jersey studio partners and New Jersey film-lease production companies starting in fiscal year 2023.

Business and Industry

https://www.njleg.state.nj.us/bill-search/2022/S4218