The Florida Senate

HB 983: Entertainment Industry Financial Incentive Program

GENERAL BILL by Diaz, M.; Raschein; (CO-INTRODUCERS) Boyd; Campbell; Castor Dentel; Combee; Cruz; Davis; Diaz, J.; Dudley; Fullwood; Gibbons; Hood; Hutson; Jones, M.; La Rosa; Moraitis; Nunez; Perry; Rehwinkel Vasilinda; Santiago; Smith; Stewart

Entertainment Industry Financial Incentive Program; Revises purpose of program; revises application requirements & approval procedure for tax credits; requires certified productions to notify Office of Film & Entertainment of changes to certain production circumstances; requires office to deem certain tax credit awards denied & applications withdrawn; authorizes office to approve adjusted tax credit awards under certain circumstances; provides that certified production is not entitled to tax credit award unless certified production's actual qualified expenditures have been verified by office & approved by DEO; specifies period in which certified production must submit qualifying expenditure data to office; revises criteria for determining priority for tax credits; revises tax credit eligibility; provides tax credit for certain qualified productions that complete certain promotional activities; authorizes credit allocations for specified fiscal years; revises program repeal provisions.