The bill amends the Digital Product and Motion Picture Industry Development Act of 2009 to increase the maximum amount of tax credits that can be approved in a fiscal year. Currently, the Arkansas Economic Development Commission is limited to approving tax credits totaling no more than four million dollars ($4,000,000) in any one fiscal year.

Under the new provisions, starting in fiscal year 2024, this limit will be raised significantly to twelve million dollars ($12,000,000). This change aims to enhance support for the digital product and motion picture industries in Arkansas by providing greater financial incentives through tax credits.

Statutes affected:
SB 459: 15-4-2012(b)