| Date Requested:February 22, 2013 Time Requested:09:54 AM |
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| FUND(S) General Revenue Fund | |||
|---|---|---|---|
Sources of Revenue | |||
| General Fund | |||
Legislation creates:
Neither Program nor Fund | |||
Effect this measure will have on costs and revenues of state government.
| The stated purpose of this bill is to is to lower the total amount of tax credits available in a given fiscal year.
As written, this bill would reduce the annual amount of Film Industry Investment Tax Credit that can be allocated from $10 million to $5 million beginning in FY2014. The savings of up to a maximum of $5 million are incorporated in the Governor’s official revenue estimates for FY2014. Additional Administrative costs to the State Tax Department associated with passage of this bill would be minimal. |
| Over-all effect |
| Effect of Proposal | Fiscal Year | ||
|---|---|---|---|
| 2013 Increase/Decrease (use"-") |
2014 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) | |
| 1. Estmated Total Cost | 0 | 0 | 0 |
| Personal Services | 0 | 0 | 0 |
| Current Expenses | 0 | 0 | 0 |
| Repairs and Alterations | 0 | 0 | 0 |
| Assets | 0 | 0 | 0 |
| Other | 0 | 0 | 0 |
| 2. Estimated Total Revenues | 0 | 0 | 0 |
|
3. Explanation of above estimates (including long-range effect):
As written, this bill would reduce the annual amount of Film Industry Investment Tax Credit that can be allocated from $10 million to $5 million beginning in FY2014. The savings of up to a maximum of $5 million are incorporated in the Governor’s official revenue estimates for FY2014.
Additional Administrative costs to the State Tax Department associated with passage of this bill would be minimal. |