Bill > SB2580

Introduced Session

Amends the Motion Picture, Digital Media, and Film Production Income Tax Credit (tax credit) by, beginning for costs incurred after 12/31/2025, providing an additional credit to qualified productions with a workforce of at least eighty percent local hires; requiring each taxpayer claiming the tax credit to submit an independent third-party certification verifying certain information to the Department of Business, Economic Development, and Tourism; increasing the per-production cap amount to $20,000,000 and excluding qualified productions that incur at least $60,000,000 of qualified production costs from the per-production cap amount; changing the aggregate cap amount to $60,000,000; providing that, beginning for costs incurred after 12/31/2023, if the total amount of tax credits claimed in a year is less than the aggregate cap amount, the cap for the subsequent year shall be increased by the unclaimed amount; defining "streaming platform" and amending the definition of "qualified production" to include certain streaming productions; and extending the sunset date of the tax credit to 1/1/2038. Exempts from the general excise tax certain amounts received by a motion picture project employer from a client company that represent reimbursements for costs paid or incurred by the client company for reasonable employment-related costs of motion picture project workers or loan-out companies. (CD1)

AI Summary

Committee Categories

Stanley Chang (D)*,  Lynn DeCoite (D)*,  Rachele Fernandez Lamosao (D)*,  Carol Fukunaga (D)*,  Angus McKelvey (D)*,  Sharon Moriwaki (D)*,  Joy San Buenaventura (D)*,  Brandon Elefante (D), 

Act 185, on 07/06/2026 (Gov. Msg. No. 1287). (on 07/07/2026)

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Official Document