Alabama 2024 Regular Session

Alabama House Bill HB326

Introduced
3/19/24  
Introduced
3/19/24  
Report Pass
4/17/24  
Refer
3/19/24  
Refer
4/30/24  
Report Pass
4/17/24  
Report Pass
5/8/24  
Refer
4/30/24  

Caption

Entertainment Industry Incentive Act of 2009 amended, music albums included as qualified production, minimum qualifications established

Impact

The amendments set specific minimum expenditure limits for qualifying music albums to receive incentives, establishing a threshold that aims to better align with the expenditures typically involved in music production. The legislation also reserves a portion of the total incentives each year specifically for music-related projects, which could pave the way for a substantial boost in the music industry within Alabama. This strategic move indicates a recognition of the significant cultural and economic contributions of the music sector, and it opens avenues for local growth in this industry.

Summary

House Bill 326 proposes amendments to the Entertainment Industry Incentive Act of 2009, primarily focusing on expanding incentives for the entertainment industry in Alabama. One notable change is the renaming of the Alabama Film Office to the Alabama Entertainment Office, emphasizing a broader focus on various forms of entertainment production, namely including music albums alongside traditional film and media projects. This amendment aims to attract a diverse range of entertainment activities to the state, potentially increasing the economic impact of the industry.

Contention

While the bill enjoys support for modernizing incentives to reflect a more inclusive definition of qualified productions, there may be concerns regarding the fairness of resource allocation. Critics could argue that the focus on incentivizing music production might detract investment from other equally noteworthy entertainment sectors, particularly film. Additionally, budgetary considerations regarding the reserved funds for music albums could lead to discussions about adequacy and effectiveness in stimulating the state's overall entertainment sector. Balancing these interests will be essential to ensuring that all facets of the entertainment community benefit from the legislative changes.

Companion Bills

AL SB285

Same As Entertainment Industry Incentive Act of 2009 amended, music albums included as qualified production, minimum qualifications established

Previously Filed As

AL SB285

Entertainment Industry Incentive Act of 2009 amended, music albums included as qualified production, minimum qualifications established

AL SB177

Alabama Film Office renamed, Entertainment Industry Incentive Act of 2009 amended, maximum expenditure threshold eligible for rebates increased, annual cap increased, unspent incentives carried forward

AL HB373

Alabama Film Office renamed, Entertainment Industry Incentive Act of 2009 amended, maximum expenditure threshold eligible for rebates increased, annual cap increased, unspent incentives carried forward

AL HB429

Relating to the Entertainment Industry Incentive Act of 2009; to amend Sections 41-7A-40, 41-7A-41, 41-7A-42, 41-7A-45, and 41-7A-48, Code of Alabama 1975, to expand the incentive by renaming it the Film and Music Incentive Act of 2023, to increase the cap on incentives to fifty million dollars annually, and to allow for the inclusion of music and virtual reality as qualified production companies.

AL SB293

Relating to the Entertainment Industry Incentive Act of 2009; to amend Sections 41-7A-40, 41-7A-41, 41-7A-42, 41-7A-43, 41-7A-45, and 41-7A-48, Code of Alabama 1975, to expand the incentive by renaming it the Film and Music Incentive Act of 2023, to allow for the inclusion of music and virtual reality as qualified production companies; to define a "historic location," and to increase the current cap of the incentive.

AL H3085

Providing incentives to the digital interactive media/entertainment industries

AL H2773

Providing incentives to the digital interactive media/entertainment industries

AL HB133

Establishes the Entertainment Industry Jobs Act

AL HB1126

Relating to the qualifications for incentives for the film, television, and multimedia production industries.

AL HB325

Alabama Film Office, director appointment process revised

Similar Bills

KY SB316

AN ACT relating to tax incentives for motion pictures and entertainment productions.

AL SB285

Entertainment Industry Incentive Act of 2009 amended, music albums included as qualified production, minimum qualifications established

KY HB510

AN ACT relating to tax incentives for continuous film production projects.

WI SB970

Creating a digital interactive media tax credit, granting rule-making authority, and making an appropriation. (FE)

WI AB1033

Creating a digital interactive media tax credit, granting rule-making authority, and making an appropriation. (FE)

GA HB1180

Income tax credit; film, gaming, video, or digital production; revise a definition

TX HB1931

Relating to reporting requirements for gift or entertainment expenditures made by a person for a member of the board of trustees of an independent school district.

GA SB349

Ad Valorem Taxation of Property; setting of millage rates; revise provisions