House Bill No. introduced by K. Seekins-Crowe proposes to amend Section 15-31-1010 of the Montana Code Annotated to increase the limit on film tax credits under the Montana Economic Development Industry Advancement Act. The bill raises the total claims for tax credits from $12 million to $350 million in a calendar year. It maintains the existing structure for claims, which are still processed on a first-come, first-served basis, and allows taxpayers to carry forward disallowed claims to the next calendar year without extending the carry forward periods.

Additionally, the bill includes provisions for the immediate effective date upon passage and approval, and it specifies that the new tax credit limits will apply to income tax years beginning after December 31, 2024. The language also emphasizes the department of commerce's responsibility to post information regarding the availability of tax credits on its website.

Statutes affected:
LC Text: 15-31-1010
HB0200_1(1): 15-31-1010
HB0200_1(2): 15-31-1010
HB0200_1(3): 15-31-1010
HB0200_1(4): 15-31-1010
HB0200_1(5): 15-31-1010
HB0200_1(6): 15-31-1010
HB0200_1: 15-31-1010