Bill > SB326

This bill updates Montana's film tax credit program through several key provisions. The bill extends the existing tax credit program through 2045 and increases the annual credit limit to $12 million, with a new allocation system that reserves portions of credits for specific categories like independent film productions, domiciled companies, and productions using qualified Montana facilities. The bill introduces additional tax credit incentives, including a 30% credit for hiring Montana resident veterans or enrolled tribal members, and credits for student interns and Montana college campus filming. The legislation creates a new film industry workforce training account funded by a 2% fee on unclaimed credits, and expands the definition of qualified productions to include more types of media content. The bill also modifies definitions of production companies, postproduction activities, and adds provisions for tracking and transferring credits. Importantly, the bill aims to diversify Montana's economy by supporting the media manufacturing sector, creating job opportunities, and attracting more film and media production to the state. The tax credits can be claimed against corporate or individual income taxes and can be carried forward for up to 5 years.

Budget and Finance

https://bills.legmt.gov/#/laws/bill/2/LC1012