SB1745 amends the Film Production Services Tax Credit Act to adjust tax credits for film productions in Illinois.
SB1745 amends the Film Production Services Tax Credit Act to modify the tax credit for film productions in Illinois. It introduces new definitions for "above-the-line spending" and "below-the-line spending," which pertain to salary, wages, fees, and fringe benefits for film production personnel. The bill specifies that "Illinois labor expenditure" does not include certain above-the-line spending and below-the-line spending. It also defines "accredited production" and "accredited animated production," which must meet specific criteria to qualify for tax credits.
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