Monday, March 30, 2009

NEWS!!! Rebuilding the Film Industry in Colorado - House Bill 09-1010 FAQ

Colorado's film community is trying to further build the local industry. Last January film industry supporters rallied for more meaningful film incentives and now the House Bill 1010 is scheduled for House Appropriations for Friday, April 3rd. Lets cross our fingers.

General Information FAQ sheet about the Bill.

Bill Summary
(Note: This summary applies to this bill as introduced and does not necessarily reflect any amendments that may be subsequently adopted.) Creates the Colorado office of film, television, and media (office) within the Colorado office of economic development. Specifies that the office shall have a director and a staff to fulfill the mission of the office. Establishes the duties of the office. Creates the Colorado office of film, television, and media operational account cash fund, and specifies the purpose of the fund. For income tax years commencing on or after January 1, 2009, but prior to January 1, 2014, establishes the Colorado film production tax credit. Specifies that the office will allocate the credits by issuing credit certificates to production companies that produce films in Colorado. Specifies the maximum value of the credit. Limits the aggregate sum of credits allocated on an annual basis to a specified amount. Allows the credit to be carried forward to other income tax years for a maximum of 3 years. Establishes the transferability of the credit. Grants the department of revenue rule-making authority.

The PREAMENDED, Unofficial Version which Includes Committee
Amendments Not Yet Adopted on Second Reading HOUSE BILL 09-1010.