Budget Amendment ID: FY2018-S3-38

OTH 38

Film Tax Credit Adjustment

Messrs. Rodrigues, Montigny and Eldridge and Ms. O'Connor Ives moved that the proposed new text be amended by adding the following sections:-

SECTION __. The definition of “Production expense” in subsection (l) of section 6 of chapter 62 of the general laws, as so appearing, is hereby amended by adding the following sentence:-  “Production expense” shall also not include the salary and compensation amounts paid to any employee or individual employed in the production of the motion picture whose salary is equal to or greater than $1,000,000.

SECTION __. Said section 6 of said chapter 62, as so appearing, is hereby further amended by striking out, in lines 606 and 607, the figure “50” and inserting in place thereof, in each instance, the following figure:- 75.

SECTION__. The definition of “Production expense” in subsection (a) of section 38X of chapter 63 of the general laws, as so appearing, is hereby amended by adding the following sentence:-  “Production expense” shall also not include the salary and compensation amounts paid to any employee or individual employed in the production of the motion picture whose salary is equal to or greater than $1,000,000.

SECTION __. Said section 38X of said chapter 63, as so appearing, is hereby further amended by striking out, in lines 62 and 63, the figure “50” and inserting in place thereof, in each instance, the following figure:- 75.