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Rhode Island Senate Bill S0464

Rhode Island 2023 Regular Session

Rhode Island Senate Bill S0464 Compare Versions

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99 S TATE OF RHODE IS LAND
1010 IN GENERAL ASSEMBLY
1111 JANUARY SESSION, A.D. 2023
1212 ____________
1313
1414 A N A C T
1515 RELATING TO TAXATION -- MUSICAL AND THEATRICAL PRODUCTIO N TAX
1616 CREDITS
1717 Introduced By: Senators Gallo, Lombardo, DiPalma, Ciccone, and Ruggerio
1818 Date Introduced: March 07, 2023
1919 Referred To: Senate Finance
2020
2121
2222 It is enacted by the General Assembly as follows:
2323 SECTION 1. Sections 44-31.3-2 and 44-31.3-4 of the General Laws in Chapter 44-31.3 1
2424 entitled "Musical and Theatrical Production Tax Credits" are hereby amended to read as follows: 2
2525 44-31.3-2. Musical and theatrical production tax credits. 3
2626 (a) Definitions. As used in this chapter: 4
2727 (1) “Accredited theater production” means a for-profit live stage presentation in a qualified 5
2828 production facility, as defined in this chapter that is either: (i) A pre-Broadway production, or (ii) 6
2929 A post-Broadway production, or (iii) A national touring production. 7
3030 (2) “Accredited theater production certificate” means a certificate issued by the film office 8
3131 certifying that the production is an accredited theater production that meets the guidelines of this 9
3232 chapter. 10
3333 (3) “Advertising and public relations expenditure” means costs incurred within the state by 11
3434 the accredited theater productions for goods or services related to the national marketing, public 12
3535 relations, creation and placement of print, electronic, television, billboards and other forms of 13
3636 advertising to promote the accredited theater production. 14
37-(4) "National touring production" means a live stage production that, in its original or 15
38-adaptive version, is performed in a qualified production facility and opens its U.S. tour in Rhode 16
39-Island with a minimum of at least four (4) public performances and following the production's final 17
40-performance in Rhode Island, the national touring production must perform for at least four (4) 18
37+(4) "National touring production" means a performance or production: 15
38+(i) Which must have at least two (2) public performances; and 16
39+(ii) Following the production's final performance, the national touring production must 17
40+perform for at least four (4) weeks in at least four (4) cities outside of Rhode Island. 18
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44-weeks in at least four (4) cities outside of Rhode Island. 1
45-(4)(5) “Payroll” means all salaries, wages, fees, and other compensation including related 2
46-benefits for services performed and costs incurred within Rhode Island. 3
47-(5)(6) “Pre-Broadway production” means a live stage production that, in its original or 4
48-adaptive version, is performed in a qualified production facility having a presentation scheduled 5
49-for Broadway’s theater district in New York City within thirty-six (36) months after its Rhode 6
50-Island presentation. 7
51-(6)(7) “Post-Broadway production” means a live stage production that, in its original or 8
52-adaptive version, is performed in a qualified production facility and opens its U.S. tour in Rhode 9
53-Island after a presentation scheduled for Broadway’s theater district in New York City. 10
54-(7)(8) “Production and performance expenditures” means a contemporaneous exchange of 11
55-cash or cash equivalent for goods or services related to development, production, performance, or 12
56-operating expenditures incurred in this state for a qualified theater production including, but not 13
57-limited to, expenditures for design, construction and operation, including sets, special and visual 14
58-effects, costumes, wardrobes, make-up, accessories; costs associated with sound, lighting, staging, 15
59-payroll, transportation expenditures, advertising and public relations expenditures, facility 16
60-expenses, rentals, per diems, accommodations and other related costs. 17
61-(8)(9) “Qualified production facility” means a facility located in the state of Rhode Island 18
62-in which live theatrical productions are, or are intended to be, exclusively presented that contains 19
63-at least one stage, a seating capacity of one thousand (1,000) or more seats, and dressing rooms, 20
64-storage areas, and other ancillary amenities necessary for the accredited theater production. 21
65-(9)(10) “Resident” or “Rhode Island resident” means, for the purpose of determination of 22
66-eligibility for the tax incentives provided by this chapter, an individual who is domiciled in the state 23
67-of Rhode Island or who is not domiciled in this state but maintains a permanent place of abode in 24
68-this state and is in this state for an aggregate of more than one hundred eighty-three (183) days of 25
69-the taxable year, unless the individual is in the armed forces of the United States. 26
70-(10)(11) “Rhode Island film and television office” means the office within the department 27
71-of administration that has been established in order to promote and encourage the locating of film 28
72-and television productions within the state of Rhode Island. The office is also referred to as the 29
73-“film office.” 30
74-(11)(12)(i) “Transportation expenditures” means expenditures for the packaging, crating, 31
75-and transportation both to the state for use in a qualified theater production of sets, costumes, or 32
76-other tangible property constructed or manufactured out of state, and/or from the state after use in 33
77-a qualified theater production of sets, costumes, or other tangible property constructed or 34
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44+(4)(5) “Payroll” means all salaries, wages, fees, and other compensation including related 1
45+benefits for services performed and costs incurred within Rhode Island. 2
46+(5)(6) “Pre-Broadway production” means a live stage production that, in its original or 3
47+adaptive version, is performed in a qualified production facility having a presentation scheduled 4
48+for Broadway’s theater district in New York City within thirty-six (36) months after its Rhode 5
49+Island presentation. 6
50+(6)(7) “Post-Broadway production” means a live stage production that, in its original or 7
51+adaptive version, is performed in a qualified production facility and opens its U.S. tour in Rhode 8
52+Island after a presentation scheduled for Broadway’s theater district in New York City. 9
53+(7)(8) “Production and performance expenditures” means a contemporaneous exchange of 10
54+cash or cash equivalent for goods or services related to development, production, performance, or 11
55+operating expenditures incurred in this state for a qualified theater production including, but not 12
56+limited to, expenditures for design, construction and operation, including sets, special and visual 13
57+effects, costumes, wardrobes, make-up, accessories; costs associated with sound, lighting, staging, 14
58+payroll, transportation expenditures, advertising and public relations expenditures, facility 15
59+expenses, rentals, per diems, accommodations and other related costs. 16
60+(8)(9) “Qualified production facility” means a facility located in the state of Rhode Island 17
61+in which live theatrical productions are, or are intended to be, exclusively presented that contains 18
62+at least one stage, a seating capacity of one thousand (1,000) or more seats, and dressing rooms, 19
63+storage areas, and other ancillary amenities necessary for the accredited theater production. 20
64+(9)(10) “Resident” or “Rhode Island resident” means, for the purpose of determination of 21
65+eligibility for the tax incentives provided by this chapter, an individual who is domiciled in the state 22
66+of Rhode Island or who is not domiciled in this state but maintains a permanent place of abode in 23
67+this state and is in this state for an aggregate of more than one hundred eighty-three (183) days of 24
68+the taxable year, unless the individual is in the armed forces of the United States. 25
69+(10)(11) “Rhode Island film and television office” means the office within the department 26
70+of administration that has been established in order to promote and encourage the locating of film 27
71+and television productions within the state of Rhode Island. The office is also referred to as the 28
72+“film office.” 29
73+(11)(12)(i) “Transportation expenditures” means expenditures for the packaging, crating, 30
74+and transportation both to the state for use in a qualified theater production of sets, costumes, or 31
75+other tangible property constructed or manufactured out of state, and/or from the state after use in 32
76+a qualified theater production of sets, costumes, or other tangible property constructed or 33
77+manufactured in this state and the transportation of the cast and crew to and from the state. Such 34
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81-manufactured in this state and the transportation of the cast and crew to and from the state. Such 1
82-term shall include the packaging, crating, and transporting of property and equipment used for 2
83-special and visual effects, sound, lighting and staging, costumes, wardrobes, make-up, and related 3
84-accessories and materials, as well as any other performance or production-related property and 4
85-equipment. 5
86-(ii) Transportation expenditures shall not include any costs to transport property and 6
87-equipment to be used only for filming and not in a qualified theater production, any indirect costs, 7
88-and expenditures that are later reimbursed by a third party; or any amounts that are paid to persons 8
89-or entities as a result of their participation in profits from the exploitation of the production. 9
90-(b) Tax credit. 10
91-(1) Any person, firm, partnership, trust, estate, or other entity that receives an accredited 11
92-theater production certificate shall be allowed a tax credit equal to thirty percent (30%) of the total 12
93-production and performance expenditures and transportation expenditures for the accredited theater 13
94-production and to be computed as provided in this chapter against a tax imposed by chapters 11, 14
95-12, 13, 14, 17, and 30 of this title. Said credit shall not exceed five million dollars ($5,000,000) and 15
96-shall be limited to certified production costs directly attributable to activities in the state and 16
97-transportation expenditures defined above. The total production budget shall be a minimum of one 17
98-hundred thousand dollars ($100,000). 18
99-(2) No more than fifteen million dollars ($15,000,000) in total may be issued for any tax 19
100-year for motion picture tax credits pursuant to chapter 31.2 of this title and/or musical and theatrical 20
101-production tax credits pursuant to this chapter. Said credits shall be equally available to motion 21
102-picture productions and musical and theatrical productions. No specific amount shall be set aside 22
103-for either type of production. 23
104-(3) The tax credit shall be allowed against the tax for the taxable period in which the credit 24
105-is earned and can be carried forward for not more than three (3) succeeding tax years. 25
106-(4) Credits allowed to a company that is a subchapter S corporation, partnership, or a 26
107-limited-liability company that is taxed as a partnership, shall be passed through respectively to 27
108-persons designated as partners, members, or owners on a pro rata basis or pursuant to an executed 28
109-agreement among such persons designated as subchapter S corporation shareholders, partners, or 29
110-members documenting an alternate distribution method without regard to their sharing of other tax 30
111-or economic attributes of such entity. 31
112-(5) If the company has not claimed the tax credits in whole or part, taxpayers eligible for 32
113-the tax credits may assign, transfer, or convey the tax credits, in whole or in part, by sale or 33
114-otherwise, to any individual or entity and the assignee of the tax credits that has not claimed the tax 34
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81+term shall include the packaging, crating, and transporting of property and equipment used for 1
82+special and visual effects, sound, lighting and staging, costumes, wardrobes, make-up, and related 2
83+accessories and materials, as well as any other performance or production-related property and 3
84+equipment. 4
85+(ii) Transportation expenditures shall not include any costs to transport property and 5
86+equipment to be used only for filming and not in a qualified theater production, any indirect costs, 6
87+and expenditures that are later reimbursed by a third party; or any amounts that are paid to persons 7
88+or entities as a result of their participation in profits from the exploitation of the production. 8
89+(b) Tax credit. 9
90+(1) Any person, firm, partnership, trust, estate, or other entity that receives an accredited 10
91+theater production certificate shall be allowed a tax credit equal to thirty percent (30%) of the total 11
92+production and performance expenditures and transportation expenditures for the accredited theater 12
93+production and to be computed as provided in this chapter against a tax imposed by chapters 11, 13
94+12, 13, 14, 17, and 30 of this title. Said credit shall not exceed five million dollars ($5,000,000) and 14
95+shall be limited to certified production costs directly attributable to activities in the state and 15
96+transportation expenditures defined above. The total production budget shall be a minimum of one 16
97+hundred thousand dollars ($100,000). 17
98+(2) No more than fifteen million dollars ($15,000,000) in total may be issued for any tax 18
99+year for motion picture tax credits pursuant to chapter 31.2 of this title and/or musical and theatrical 19
100+production tax credits pursuant to this chapter. Said credits shall be equally available to motion 20
101+picture productions and musical and theatrical productions. No specific amount shall be set aside 21
102+for either type of production. 22
103+(3) The tax credit shall be allowed against the tax for the taxable period in which the credit 23
104+is earned and can be carried forward for not more than three (3) succeeding tax years. 24
105+(4) Credits allowed to a company that is a subchapter S corporation, partnership, or a 25
106+limited-liability company that is taxed as a partnership, shall be passed through respectively to 26
107+persons designated as partners, members, or owners on a pro rata basis or pursuant to an executed 27
108+agreement among such persons designated as subchapter S corporation shareholders, partners, or 28
109+members documenting an alternate distribution method without regard to their sharing of other tax 29
110+or economic attributes of such entity. 30
111+(5) If the company has not claimed the tax credits in whole or part, taxpayers eligible for 31
112+the tax credits may assign, transfer, or convey the tax credits, in whole or in part, by sale or 32
113+otherwise, to any individual or entity and the assignee of the tax credits that has not claimed the tax 33
114+credits in whole or part may assign, transfer, or convey the tax credits, in whole or in part, by sale 34
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118-credits in whole or part may assign, transfer, or convey the tax credits, in whole or in part, by sale 1
119-or otherwise, to any individual or entity. The assignee of the tax credits may use acquired credits 2
120-to offset up to one hundred percent (100%) of the tax liabilities otherwise imposed pursuant to 3
121-chapter 11, 12, 13 (other than the tax imposed under § 44-13-13), 14, 17, or 30 of this title. The 4
122-assignee may apply the tax credit against taxes imposed on the assignee for not more than three (3) 5
123-succeeding tax years. The assignor shall perfect the transfer by notifying the state of Rhode Island 6
124-division of taxation, in writing, within thirty (30) calendar days following the effective date of the 7
125-transfer and shall provide any information as may be required by the division of taxation to 8
126-administer and carry out the provisions of this section. 9
127-(6) For purposes of this chapter, any assignment or sales proceeds received by the assignor 10
128-for its assignment or sale of the tax credits allowed pursuant to this section shall be exempt from 11
129-this title. 12
130-(7) In the case of a corporation, this credit is only allowed against the tax of a corporation 13
131-included in a consolidated return that qualifies for the credit and not against the tax of other 14
132-corporations that may join in the filing of a consolidated tax return. 15
133-(c) Certification and administration. 16
134-(1) The applicant shall properly prepare, sign, and submit to the film office an application 17
135-for initial certification of the theater production. The application shall include the information and 18
136-data as the film office deems reasonably necessary for the proper evaluation and administration of 19
137-the application, including, but not limited to, any information about the theater production company 20
138-and a specific Rhode Island live theater or musical production. The film office shall review the 21
139-completed application and determine whether it meets the requisite criteria and qualifications for 22
140-the initial certification for the production. If the initial certification is granted, the film office shall 23
141-issue a notice of initial certification of the accredited theater production to the theater production 24
142-company and to the tax administrator. The notice shall state that, after appropriate review, the initial 25
143-application meets the appropriate criteria for conditional eligibility. The notice of initial 26
144-certification will provide a unique identification number for the production and is only a statement 27
145-of conditional eligibility for the production and, as such, does not grant or convey any Rhode Island 28
146-tax benefits. 29
147-(2) Upon completion of an accredited theater production, the applicant shall properly 30
148-prepare, sign, and submit to the film office an application for final certification of the accredited 31
149-theater production. The final application shall also contain a cost report and an “accountant’s 32
150-certification.” The film office and tax administrator may rely without independent investigation, 33
151-upon the accountant’s certification, in the form of an opinion, confirming the accuracy of the 34
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118+or otherwise, to any individual or entity. The assignee of the tax credits may use acquired credits 1
119+to offset up to one hundred percent (100%) of the tax liabilities otherwise imposed pursuant to 2
120+chapter 11, 12, 13 (other than the tax imposed under § 44-13-13), 14, 17, or 30 of this title. The 3
121+assignee may apply the tax credit against taxes imposed on the assignee for not more than three (3) 4
122+succeeding tax years. The assignor shall perfect the transfer by notifying the state of Rhode Island 5
123+division of taxation, in writing, within thirty (30) calendar days following the effective date of the 6
124+transfer and shall provide any information as may be required by the division of taxation to 7
125+administer and carry out the provisions of this section. 8
126+(6) For purposes of this chapter, any assignment or sales proceeds received by the assignor 9
127+for its assignment or sale of the tax credits allowed pursuant to this section shall be exempt from 10
128+this title. 11
129+(7) In the case of a corporation, this credit is only allowed against the tax of a corporation 12
130+included in a consolidated return that qualifies for the credit and not against the tax of other 13
131+corporations that may join in the filing of a consolidated tax return. 14
132+(c) Certification and administration. 15
133+(1) The applicant shall properly prepare, sign, and submit to the film office an application 16
134+for initial certification of the theater production. The application shall include the information and 17
135+data as the film office deems reasonably necessary for the proper evaluation and administration of 18
136+the application, including, but not limited to, any information about the theater production company 19
137+and a specific Rhode Island live theater or musical production. The film office shall review the 20
138+completed application and determine whether it meets the requisite criteria and qualifications for 21
139+the initial certification for the production. If the initial certification is granted, the film office shall 22
140+issue a notice of initial certification of the accredited theater production to the theater production 23
141+company and to the tax administrator. The notice shall state that, after appropriate review, the initial 24
142+application meets the appropriate criteria for conditional eligibility. The notice of initial 25
143+certification will provide a unique identification number for the production and is only a statement 26
144+of conditional eligibility for the production and, as such, does not grant or convey any Rhode Island 27
145+tax benefits. 28
146+(2) Upon completion of an accredited theater production, the applicant shall properly 29
147+prepare, sign, and submit to the film office an application for final certification of the accredited 30
148+theater production. The final application shall also contain a cost report and an “accountant’s 31
149+certification.” The film office and tax administrator may rely without independent investigation, 32
150+upon the accountant’s certification, in the form of an opinion, confirming the accuracy of the 33
151+information included in the cost report. Upon review of a duly completed and filed application and 34
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155-information included in the cost report. Upon review of a duly completed and filed application and 1
156-upon no later than thirty (30) days of submission thereof, the division of taxation will make a 2
157-determination pertaining to the final certification of the accredited theater production and the 3
158-resultant tax credits. 4
159-(3) Upon determination that the company qualifies for final certification and the resultant 5
160-tax credits, the tax administrator of the division of taxation shall issue to the company: (i) An 6
161-accredited theater production certificate; and (ii) A tax credit certificate in an amount in accordance 7
162-with subsection (b) of this section. A musical and theatrical production company is prohibited from 8
163-using state funds, state loans, or state guaranteed loans to qualify for the motion picture tax credit. 9
164-All documents that are issued by the film office pursuant to this section shall reference the 10
165-identification number that was issued to the production as part of its initial certification. 11
166-(4) The director of the department of administration, in consultation as needed with the tax 12
167-administrator, shall promulgate rules and regulations as are necessary to carry out the intent and 13
168-purposes of this chapter in accordance with the general guidelines provided herein for the 14
169-certification of the production and the resultant production credit. 15
170-(5) If information comes to the attention of the film office that is materially inconsistent 16
171-with representations made in an application, the film office may deny the requested certification. 17
172-In the event that tax credits or a portion of tax credits are subject to recapture for ineligible costs 18
173-and the tax credits have been transferred, assigned, and/or allocated, the state will pursue its 19
174-recapture remedies and rights against the applicant of the theater production tax credits. No redress 20
175-shall be sought against assignees, sellers, transferees, or allocates of the credits. 21
176-(d) Information requests. 22
177-(1) The director of the film office, and his or her agents, for the purpose of ascertaining the 23
178-correctness of any credit claimed under the provisions of this chapter, may examine any books, 24
179-paper, records, or memoranda bearing upon the matters required to be included in the return, report, 25
180-or other statement, and may require the attendance of the person executing the return, report, or 26
181-other statement, or of any officer or employee of any taxpayer, or the attendance of any other 27
182-person, and may examine the person under oath respecting any matter that the director, or his or 28
183-her agent, deems pertinent or material in administration and application of this chapter and where 29
184-not inconsistent with other legal provisions, the director may request information from the tax 30
185-administrator. 31
186-(2) The tax administrator, and his or her agents, for the purpose of ascertaining the 32
187-correctness of any credit claimed under the provisions of this chapter, may examine any books, 33
188-paper, records, or memoranda bearing upon the matters required to be included in the return, report, 34
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155+upon no later than thirty (30) days of submission thereof, the division of taxation will make a 1
156+determination pertaining to the final certification of the accredited theater production and the 2
157+resultant tax credits. 3
158+(3) Upon determination that the company qualifies for final certification and the resultant 4
159+tax credits, the tax administrator of the division of taxation shall issue to the company: (i) An 5
160+accredited theater production certificate; and (ii) A tax credit certificate in an amount in accordance 6
161+with subsection (b) of this section. A musical and theatrical production company is prohibited from 7
162+using state funds, state loans, or state guaranteed loans to qualify for the motion picture tax credit. 8
163+All documents that are issued by the film office pursuant to this section shall reference the 9
164+identification number that was issued to the production as part of its initial certification. 10
165+(4) The director of the department of administration, in consultation as needed with the tax 11
166+administrator, shall promulgate rules and regulations as are necessary to carry out the intent and 12
167+purposes of this chapter in accordance with the general guidelines provided herein for the 13
168+certification of the production and the resultant production credit. 14
169+(5) If information comes to the attention of the film office that is materially inconsistent 15
170+with representations made in an application, the film office may deny the requested certification. 16
171+In the event that tax credits or a portion of tax credits are subject to recapture for ineligible costs 17
172+and the tax credits have been transferred, assigned, and/or allocated, the state will pursue its 18
173+recapture remedies and rights against the applicant of the theater production tax credits. No redress 19
174+shall be sought against assignees, sellers, transferees, or allocates of the credits. 20
175+(d) Information requests. 21
176+(1) The director of the film office, and his or her agents, for the purpose of ascertaining the 22
177+correctness of any credit claimed under the provisions of this chapter, may examine any books, 23
178+paper, records, or memoranda bearing upon the matters required to be included in the return, report, 24
179+or other statement, and may require the attendance of the person executing the return, report, or 25
180+other statement, or of any officer or employee of any taxpayer, or the attendance of any other 26
181+person, and may examine the person under oath respecting any matter that the director, or his or 27
182+her agent, deems pertinent or material in administration and application of this chapter and where 28
183+not inconsistent with other legal provisions, the director may request information from the tax 29
184+administrator. 30
185+(2) The tax administrator, and his or her agents, for the purpose of ascertaining the 31
186+correctness of any credit claimed under the provisions of this chapter, may examine any books, 32
187+paper, records, or memoranda bearing upon the matters required to be included in the return, report, 33
188+or other statement, and may require the attendance of the person executing the return, report, or 34
189189
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192-or other statement, and may require the attendance of the person executing the return, report, or 1
193-other statement, or of any officer or employee of any taxpayer, or the attendance of any other 2
194-person, and may examine the person under oath respecting any matter the tax administrator or his 3
195-or her agent deems pertinent or material in determining the eligibility for credits claimed and may 4
196-request information from the film office, and the film office shall provide the information in all 5
197-cases to the tax administrator. 6
198-(e) The film office shall comply with the impact analysis and periodic reporting provisions 7
199-of § 44-31.2-6.1. 8
200-44-31.3-4. Sunset. 9
201-No credits shall be issued on or after July 1, 2024 2027, unless the production has received 10
202-initial certification under § 44-31.3-2(c) prior to July 1, 2024 2027. 11
203-SECTION 2. This act shall take effect upon passage. 12
191+LC002303 - Page 6 of 7
192+other statement, or of any officer or employee of any taxpayer, or the attendance of any other 1
193+person, and may examine the person under oath respecting any matter the tax administrator or his 2
194+or her agent deems pertinent or material in determining the eligibility for credits claimed and may 3
195+request information from the film office, and the film office shall provide the information in all 4
196+cases to the tax administrator. 5
197+(e) The film office shall comply with the impact analysis and periodic reporting provisions 6
198+of § 44-31.2-6.1. 7
199+44-31.3-4. Sunset. 8
200+No credits shall be issued on or after July 1, 2024, unless the production has received initial 9
201+certification under § 44-31.3-2(c) prior to July 1, 2024 2027. 10
202+SECTION 2. This act shall take effect upon passage. 11
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210209 EXPLANATION
211210 BY THE LEGISLATIVE COUNCIL
212211 OF
213212 A N A C T
214213 RELATING TO TAXATION -- MUSICAL AND THEATRIC AL PRODUCTION TAX
215214 CREDITS
216215 ***
217216 This act would add a "national touring production" to the productions that are considered 1
218217 an "accredited theater production" for purposes of musical and theatrical production tax credits and 2
219218 would extend the sunset of the credits to July 1, 2027. 3
220219 This act would take effect upon passage. 4
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