PRESS RELEASE

Rep. Abney’s motion picture tax credit bill passes House

 

STATE HOUSE – House Finance Committee Chairman Marvin L. Abney’s (D-Dist. 73, Newport, Middletown) legislation (2020-H 7247A) that amends the state’s motion picture tax credit program passed the House of Representatives tonight.

The legislation amends the current program by allowing productions to utilize tax credits, even if the majority of production is not done within the state, if the production spends a minimum of $10 million within Rhode Island during a 12-month span.

“This is a very appropriate and exciting amendment to our motion picture tax credit program.  With this change, Rhode Island and its numerous natural and man-made assets, such as the Newport mansions, will now have a shot at landing much larger and high-profile movie and television productions.  This is turn will drive national and international tourism into our borders, all without spending a single dollar more than the program currently allows.  If you want to see James Bond running through the Newport mansions or perhaps your favorite Marvel superhero on the streets of Providence, you should support this much-needed bill,” said Representative Abney.

According to the current program, a production must shoot the majority of its project within Rhode Island in order to qualify for the tax credit program.  This is turn has caused larger, and often times global, productions to bypass using Rhode Island as a production location.

The majority of the tax credit program will remain the same under the new bill, such as, the amount of the tax credit being 30 percent of the state-certified production costs and capping the program’s total amount at $20 million for any tax year.

The bill now heads to the Senate for consideration.

-30-

For an electronic version of this and all press releases published by the Legislative Press and Public Information Bureau, please visit our website at www.rilegislature.gov/pressrelease.

 

 

                                                                                                                 

 

Bernie Sanders is leading the pack of Democratic presidential candidates. A new national poll from Fox News shows the Vermont Senator at the top with 31 percent support. The poll comes out just days before the candidates take part in the presidential primary season's Super Tuesday.       The United States is showing its support for Turkey after dozens of the country's soldiers were killed in an attack by Syria. The U.S. State Department said it stands behind Turkey and called for an immediate end to the "despicable offensive" by Syria.        Another California county is under a health emergency. It's where a woman may be the first in the nation to have gotten coronavirus locally, despite not being exposed to anybody who was sick or traveling overseas. Solano County is also where hundreds have been quarantined at a military base.        Actress Lori Loughlin [[ LOCK-lin ]] is heading to court later this year. Her court date in the college admissions scandal has been set to start on October 5th. She and her husband face a maximum sentence of 50 years each and millions of dollars in fines if found guilty.       Move over Starbucks, Panera is serving up unlimited coffee. The restaurant chain just launched a nine-dollar monthly subscription for all you can drink hot or iced coffee, even hot tea. Customers can show up as often as every two hours and get any size. Simply become a member of the free rewards program and sign up for a subscription.