Connecticut Senate Bill SB00088

Connecticut 2019 Regular Session

• Introduced: 1/17/19
• Refer: 1/17/19

Caption

An Act Reinstating Film And Digital Animation Production Tax Credits.

Impact

The reintroduction of tax credits for the film and digital animation sectors is expected to stimulate the local economy by generating new employment opportunities. Supporters of the bill believe that it will lead to an influx of production companies that will not only provide jobs but also contribute to a vibrant creative industry within the state. This move is seen as essential for reviving interest in the local film industry, which may have waned in recent years due to the lack of financial incentives.

Summary

Senate Bill 88 seeks to reinstate tax credits for film and digital animation production within the state. The primary aim of this legislation is to attract new film and animation businesses to establish operations in the state, which proponents argue will create job opportunities in a sector known for its growth and profitability. By reinstating these tax incentives, the bill is designed to position the state as an attractive destination for media production, enabling it to compete more effectively with other states offering similar benefits.

Contention

While the bill has garnered support from various industry stakeholders who see the benefits of attracting new businesses into the state, there may be points of contention regarding the fiscal implications of offering tax credits. Critics might argue that such incentives could detract from potential state revenue, raising concerns about whether these credits are a wise investment of public funds. The debate may center on the balance between providing necessary support to foster economic growth in the creative sector and ensuring the state's overall financial health.