New Tax Breaks for Florida Filmmakers
Incentives Designed to Attract Production While Encouraging Use of Local Talent
The bipartisan bill, CS/SB 1752, was sponsored by Republican state senator Don Gaetz of Destin, and co-sponsored by Democratic Sen. Jeremy Ring of Margate. Primary sponsors in the House were Rep. Will Weatherford (R-Wesley Chapel) and Rep. Ellyn Bogdanoff (R-Fort Lauderdale). The bill was unanimously passed in both houses.
Under the new law, major film and TV productions that employ at least 50 percent of their production cast and below-the-line crew from Florida's talent pool could qualify for tax breaks of up to $8 million. Films and video games with family-friendly content would qualify for an additional 5 percent tax break. Small independent, digital and emerging media productions could qualify for tax incentives of up to $125,000.
The incentives apply to projects with a start date of July 1, 2010, and are designed to attract production to the state while encouraging the use of Florida artists and technicians.
"With an unemployment rate worse than 12 percent, Florida families and Florida businesses are hurting," said Gaetz in a statement on his website. "This package of incentives actually loosens government's grip on the private sector and gives companies solid reasons to stay in Florida, expand in Florida and come to Florida."
According to Gaetz, the bill will also require transparency in the way the economic incentives are awarded and administered.
Applications on behalf of productions slated for fiscal year 2010/2011 will be accepted via electronic submission to the Office of Film and Entertainment beginning on Wednesday, June 9th at 12:00 noon EST. Additional information is available at the website.
"NEW: 2010/2011 Florida Film & Entertainment Industry Financial Incentive Program", Film in Florida
"Historic Economic Development Package Signed into Law by Governor Crist", Sen. Don Gaetz official site
"Senate 1752: Relating to Economic Development [WPSC]" Florida Senate website
Published by JC
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