Bill > HB655

This bill renews and expands a tax credit program for postproduction companies in Georgia, focusing on attracting and supporting film and media production activities in the state. The bill increases the annual aggregate tax credit limit from $10 million to $60 million for taxable years between 2026 and 2031, and introduces a new 5% additional tax credit for postproduction companies that invest at least $250,000 in rural counties with high poverty rates. The bill broadens the definition of "qualified production" to include special venue projects and clarifies that expenditures can be incurred both inside and outside Georgia. Postproduction companies must report their monthly average number of full-time employees (defined as working at least 35 hours per week and earning above the lowest county average wage) to the Department of Revenue, which will then report details to legislative committees. The legislation aims to continue supporting Georgia's growing media production industry by providing financial incentives for companies that invest in postproduction activities within the state, with an effective date of July 1, 2025, applying to taxable years beginning January 1, 2026.

Budget and Finance

https://www.legis.ga.gov/legislation/70854