The bill amends the motion picture production tax credit program in Louisiana, specifically updating definitions and provisions related to the program. It renames the "Governor's Office of Film and Television Development" to the "office of entertainment industry development" and establishes that this office will remain in place until July 1, 2025. The bill introduces a new tax credit for state-certified productions and Qualified Entertainment Companies, allowing for a credit of up to forty percent for approved projects starting from July 1, 2025. Additionally, it outlines the criteria for applications and the factors Louisiana Economic Development will consider when approving these applications.

The bill also sets specific maximum credit amounts for productions and payroll expenditures for the period leading up to July 1, 2025. For instance, it caps the maximum amount of credits for a single state-certified production at twenty million dollars, with an exception for scripted episodic content, which can receive up to twenty-five million dollars per season. The legislation emphasizes the importance of supporting the motion picture production industry in Louisiana and mandates that all rules for the program be approved by relevant legislative committees before taking effect. The act is set to become effective on July 1, 2025, unless vetoed and subsequently approved by the legislature.

Statutes affected:
SB232 Original: 47:6007(B)(18)
SB232 Engrossed: 47:6007(B)(18)
SB232 Reengrossed: 47:6007(B)(11)
SB232 Enrolled: 47:6007(B)(11)
SB232 Act : 47:6007(B)(11)