Friday, April 10, 2009

House Ways and Means Committee Approves Rep. Grill's Film Tax Credit Legislation

Members of the House Ways and Means Committee this week approved legislation sponsored by Rep. Jason Grill, D-Parkville, that would increase the amount of tax credits offered to entice film production projects to locate in Missouri. The committee approved Rep Grill’s legislation (House Bill 767) by a vote of 9-1 during a public hearing held Thursday, April 9.

Rep. Grill’s bill would increase the cap on tax credits for qualified film production projects from $4.5 million to $10 million per year. Rep. Grill said his goal is to attract more motion picture productions to Missouri, which would create new jobs, increase revenue and further the state’s economic development efforts. During the hearing for the bill, several individuals testified in favor of increasing the tax credit caps including: Lorah Steiner, President of the Missouri Motion Media Association; Ray McCarty, President of Associated Industries of Missouri; Kyna Iman of Missouri Citizens for the Arts; and Geno Hart, Executive Manager with Paramount Pictures. No opposition to the legislation was voiced.

“Missouri’s film industry represents a great deal of untapped potential in regard to the amount of additional economic development that is possible for our state. By expanding the tax credits we offer, we can realize much of that potential by bringing in more and more job-producing film projects,” said Rep. Grill. “I want to thank the members of the House Ways and Means Committee for giving this bill full consideration and approving it. I look forward to the House Rules Committee moving quickly to send the bill to the House floor where I am confident it will receive strong support from both parties.”

Rep. Grill’s legislation now heads to the House Rules Committee where it must be approved before moving to the House floor for debate.