Bill > SB0306

This bill amends Indiana's film and media production tax credit by introducing several key provisions. First, the bill allows taxpayers to assign part of their film and media production tax credit, with the important caveat that only one assignment can be made and the assignee cannot further transfer the credit. The bill establishes procedural requirements for these assignments, including mandatory notification to the corporation and reporting on state tax returns. Additionally, the bill caps individual tax credits at $250,000 and limits the total aggregate credits that can be issued to $2,000,000. The legislation also extends the expiration date of the tax credit program from July 1, 2027, to July 1, 2031, giving film and media production businesses more time to take advantage of the incentive. The new provisions will take effect on January 1, 2026, for taxable years beginning after December 31, 2025, which provides clarity and advance notice to potential users of the tax credit program.