LD 1334, An Act To Promote Economic Development through Increased Film Incentives

SUMMARY that appears at the end of the bill as printed:

“This bill makes multiple changes to the tax credits available to visual media production companies operating in the State.  The bill makes the available tax credits refundable, increases the credits for certain expenses incurred in Maine and for hiring residents of Maine and offers additional credits for visual media productions that are located in certain Maine counties, are set in Maine or have a lead cast member, writer or director who is a Maine resident.  The bill also reduces the total expenditures needed to qualify for the credits, extends the time period for visual media production companies to certify with the Department of Economic and Community Development and sets a $500,000 limit on the total value of the tax credits that increases to $1,000,000 after January 1, 2026.  The bill makes other changes necessary for these provisions.”