Budget Amendment ID: FY2016-S3-43-R2

2nd Redraft OTH 43

Film Tax Credit

Messrs. Eldridge and Montigny moved that the proposed new text be amended by inserting after section XX, the following new section:-

SECTION 105A.  There shall be a special commission consisting of the members of the joint committee on revenue, which shall make a report regarding legislation modifying the motion picture industry tax incentive program, established in subsection (l) of section 6 of chapter 62 of the General Laws, section 38X of chapter 63 of the General Laws and subsection (ww) of section 6 of chapter 64H of the General Laws, after consideration of the following goals: (i) directing the employment benefits of the credit primarily to residents of the commonwealth rather than out-of-state residents; (ii) focusing on projects that provide long-term employment benefits to residents of the commonwealth; and (c) limiting the total cost of the program while maximizing its benefits.  The report shall provide recommendation and any legislation necessary to carry those recommendations into effect.  The commission shall consider whether any additional revenue realized should be directed to further expanding the earned income tax credit established in subsection (h) of section 6 of chapter 62 of the General Laws.