Bill
Bill > S4392
NJ S4392
Revises film and digital media content production tax credit program to include requirement for production of domestic original music and musical scores.
summary
Introduced
05/19/2025
05/19/2025
In Committee
05/19/2025
05/19/2025
Crossed Over
Passed
Dead
Introduced Session
2024-2025 Regular Session
Bill Summary
The bill revises the Garden State Film and Digital Media Tax Credit Program, which provides corporation business tax and gross income tax credits for expenses incurred for the production of certain films and digital media content. Specifically, the bill revises the tax credit program to include an additional criterion for certain film and digital media content expenses to be considered eligible for the tax credit. The bill adds a requirement to the tax credit program for taxpayers that produce films and digital media content that include original music or original musical scores. The bill requires all original music and original musical scores developed for the production of film or digital media content to be produced and recorded domestically in the United States or any of its territories.
AI Summary
This bill revises the Garden State Film and Digital Media Tax Credit Program to include a new requirement for productions to have original music and musical scores produced and recorded domestically in the United States or its territories. Specifically, the bill amends existing tax credit regulations for both film and digital media content productions to mandate that all original music and musical scores developed for a production must be created within the United States. This means that film and digital media content producers seeking tax credits will now need to ensure their musical compositions and scores are composed and recorded domestically. The bill applies to tax credits for both corporate business taxes and gross income taxes, and will take effect for privilege periods and taxable years beginning on or after January 1 following its enactment. The goal appears to be supporting domestic music production and keeping creative work within the United States as a condition for receiving tax incentives in the film and digital media industries.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Commerce Committee (on 05/19/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2024/S4392 |
| BillText | https://pub.njleg.gov/Bills/2024/S4500/4392_I1.HTM |
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