Bill > SB253

This bill amends the Entertainment Industry Incentive Act of 2009 by changing the Department of Commerce to the Department of Revenue for certain definitions, creating a new incentive program for small-budget qualified productions offering a 45% rebate on payroll paid to Alabama residents for productions with expenditures between $100,000 and $499,999, and lowering the minimum expenditure threshold for soundtrack and music video productions from $50,000 to $30,000 and the maximum rebateable expenditure from $300,000 to $200,000 for soundtracks. It also extends the deadline for an out-of-state entity to review and evaluate the incentive program, requiring a report to the Legislature by the 2028 Regular Legislative Session instead of 2027, and mandates the Department of Revenue to provide the Department of Commerce with a list of companies claiming incentives annually for economic development planning and program evaluation, while ensuring taxpayer confidentiality.

Budget and Finance

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