Illinois 2023-2024 Regular Session

Illinois House Bill HB3431

Introduced
2/17/23  
Introduced
2/17/23  
Refer
2/28/23  
Refer
2/17/23  
Refer
3/10/23  
Refer
2/28/23  
Refer
2/28/24  
Refer
3/10/23  
Refer
4/5/24  
Refer
2/28/24  

Caption

REVENUE-FILM PRODUCTION

Impact

The bill establishes that eligible productions can receive a 5% credit on Illinois labor expenditures generated by employing residents from areas outside of the defined metropolitan region surrounding Chicago. Additionally, the credit increases to an additional 5% if 50% or more of the filming occurs outside the metropolitan area. By allowing for a broadened tax credit base, the bill seeks to incentivize more filming activities in underserved regions of the state, potentially leading to job creation and economic growth in those areas.

Summary

House Bill 3431 amends the Film Production Services Tax Credit Act of 2008 to adjust the definitions and scope of accredited productions eligible for tax credits. Notably, it specifies that talk shows produced for local or regional markets and reality competition productions do not qualify as accredited productions. This change aims to refine the types of productions that can benefit from Illinois' tax incentives to ensure that the assistance is directed towards productions deemed to have a more significant impact on the local economy.

Contention

Significant points of contention among stakeholders may arise concerning the exclusion of certain types of productions, particularly talk shows and reality competitions. Critics might argue that these forms of media also contribute to the state’s culture and economy and that their exclusion from tax benefits is shortsighted. Proponents, however, may assert that focusing tax incentives on traditional film and television productions will maximize the state's economic benefits from the entertainment industry while fostering a stronger local talent pool.

Companion Bills

No companion bills found.

Previously Filed As

IL SB1531

FILM TAX CR-NONMETROPOLITAN

IL SB3249

FILM TAX CR-NONMETROPOLITAN

IL SB2098

FILM CREDIT-POST PRODUCTION

IL HB3616

FILM TAX CREDIT-FIREARMS

IL SB1745

TAX-FILM PRODUCTION CREDIT

IL HB5659

REVENUE-MICROFIBER FILTER

IL HB2870

FILM TX CREDIT-SPENDING

IL SB1897

FILM TX CREDIT-SPENDING

IL HB1424

FILM TAX CREDIT-WOMEN IN STEM

IL HB4655

REVENUE-MEGAPROJECT

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IL SB3249

FILM TAX CR-NONMETROPOLITAN

IL SB1531

FILM TAX CR-NONMETROPOLITAN

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