Missouri lawmakers are trying to re-up tax credits for film projects in a bid to lure Hollywood back to the state.
The tax credits lapsed in 2013; since then, several movies and TV shows set in Missouri — Ozark, Sharp Objects, and others — have filmed elsewhere.
From the News Tribune:
Senate Bill 367 would establish the Show Missouri Film and Digital Media Act and reauthorize the tax credits for film production projects that expired in 2013. Lawmakers tried in vain to resurrect the tax credit two years ago.
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The Missouri Department of Economic Development would approve projects that get the tax credit and would conduct a full audit of expenditures before production companies receive tax credits.
The bill would provide a 25 percent tax credit for in-state expenses and 10 percent of qualifying out-of-state expenses. If at least half of the project is filmed in Missouri, an additional 5 percent of expenses would be awarded. Additionally, another 5 percent can be awarded if the Department of Economic Development decides the production positively markets Missouri. The bill requires all recipients of the tax credits to include a logo in the film credits to indicate the project was filmed in Missouri. The total amount of credits in any year would be capped at $4.5 million.
After the hearing, Tackette explained productions will film for a couple of days in Missouri to get exterior shots and then leave for a state with better incentive programs.
While Missouri would be among the lowest of states with incentive programs, Tackette said the bill is needed to attract more projects, and Missouri would be able to compete with 12 other states that have incentive programs less than $10 million. She said it would take more incentives to bring shows like “Ozark” to Missouri, but SB 367 could likely attract films with up to $15 million budgets.
