Bill > HB200

This bill increases the annual limit on Montana Economic Development Industry Advancement (MEDIA) Act film tax credits from $12 million to $350 million per calendar year. The bill modifies existing law to significantly expand the available tax credits for film and media production in Montana, which are granted by the Department of Commerce and claimed by taxpayers. Under the new provisions, tax credits will continue to be allocated on a first-come, first-served basis, with taxpayers who cannot claim credits in a given year able to carry them forward to the next calendar year, though the original carry-forward periods remain unchanged. The Department of Revenue is still required to make reasonable efforts to post the amount of available credits online, and may waive penalties and interest if a claim is disallowed due to reaching the annual limit. The bill will become effective immediately upon passage and will apply to income tax years beginning after December 31, 2024, potentially providing a substantial boost to Montana's film and media production incentives.

Budget and Finance

https://bills.legmt.gov/#/laws/bill/2/LC3553