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Monday, 09 May 2011 19:48

Utah Governor Signs Tax Credit Legislation for Film Industry

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Utah’s Legislature approved a nationally competitive increase in the tax incentive for film makers that will boost the motion picture tax incentive from 20 to up to 25 percent of the dollars left in the state in the form of a fully refundable post performance tax credit or cash rebate. Governor Gary R. Herbert signed House Bill 99, Motion Picture Incentives Amendments, into law. The Legislature approved an ongoing tax credit fund of $6.8 million for the Motion Picture Incentive Fund (MPIF).

“Our vision for the State of Utah is to be recognized as a premiere global business destination,” said Governor Herbert. “The expanded motion picture incentive will enable us to position Utah and its talented motion picture and digital media work force to compete on a global basis for the film and digital media industries. These are important industries to our economy’s future.”

“The higher rebate will now make us more attractive to the studios and networks and more competitive with other states and countries,” said Marshall Moore, director of the Utah Film Commission.

"The Motion Picture Association of Utah is gratified by the passage of HB99,” said Don Schain, President of the Motion Picture Association of Utah. “This bill represents a major step forward in the continuing development of a fair and sustainable Motion Picture Incentive. It has long been the MPAU's position that our incentive works because it keeps our industry competitive while providing the State of Utah an attractive return on investment. In these difficult economic times, we are pleased that the Legislature recognized that Film and Television are part of the solution."

For information about filming in Utah, visit http://www.film.utah.gov or contact the Utah Film Commission at (800) 453-8824 or (801) 538-8740.

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