Bill > SB159

This bill modifies Ohio's film and theater production tax credit program by increasing the maximum annual tax credit amount from $50 million to $100 million and removing references to a separate film and theater capital improvement tax credit that is being repealed. The legislation maintains the existing framework for tax credits for motion picture and Broadway theatrical productions, which provides a 30% tax credit for eligible expenditures over $300,000. The bill continues to reserve $5 million of the annual tax credit allocation specifically for Broadway theatrical productions and requires production companies to provide detailed information about their projects when applying for certification, including budget, economic impact, and workforce development potential. The director of development will still review and approve applications on a first-come, first-served basis, prioritizing productions with the greatest potential economic impact and that are likely to develop a permanent workforce in Ohio's film and theater industries. Additionally, the bill preserves the requirement for an independent certified public accountant to review and certify eligible expenditures and maintains the training program for Ohio residents interested in film and multimedia industry jobs.

Budget and Finance

https://www.legislature.ohio.gov/legislation/136/sb159