House Bill No. by Representative Davis seeks to amend the sound recording investor tax credit program by extending the application deadline for tax credits. The bill specifically changes the termination date for applications from July 1, 2025, to July 1, 2030. This extension allows investors more time to apply for income tax credits related to their investments in state-certified sound recording productions, which must meet the existing requirements outlined in current law.

The provisions of this bill will apply to taxable periods beginning on or after January 1, 2025, and it will take effect upon the governor's signature or after the designated time for gubernatorial action if not signed. Overall, the bill aims to support the sound recording industry by providing a longer window for investors to benefit from tax credits, thereby encouraging further investment in this sector.

Statutes affected:
HB653 Original: 47:6023(I)