<body><script type="text/javascript"> function setAttributeOnload(object, attribute, val) { if(window.addEventListener) { window.addEventListener('load', function(){ object[attribute] = val; }, false); } else { window.attachEvent('onload', function(){ object[attribute] = val; }); } } </script> <div id="navbar-iframe-container"></div> <script type="text/javascript" src="https://apis.google.com/js/plusone.js"></script> <script type="text/javascript"> gapi.load("gapi.iframes:gapi.iframes.style.bubble", function() { if (gapi.iframes && gapi.iframes.getContext) { gapi.iframes.getContext().openChild({ url: 'https://www.blogger.com/navbar.g?targetBlogID\x3d8027888\x26blogName\x3dRESIST+OPPRESSION\x26publishMode\x3dPUBLISH_MODE_BLOGSPOT\x26navbarType\x3dBLACK\x26layoutType\x3dCLASSIC\x26searchRoot\x3dhttp://resistoppression.blogspot.com/search\x26blogLocale\x3den_US\x26v\x3d2\x26homepageUrl\x3dhttp://resistoppression.blogspot.com/\x26vt\x3d-6094122990481712765', where: document.getElementById("navbar-iframe-container"), id: "navbar-iframe" }); } }); </script>

Image Hosted by ImageShack.us

7/14/2005

Illinois Governor Signs Film Production Tax Credit Bill

Source: Teamsters

On July 11, Illinois Governor Rod Blagojevich signed Senate Bill 1965—the Film Production Tax Credit—into law. The ceremony took place on the set of Universal Pictures’ The Break-Up--a romantic comedy being filmed in Chicago, starring Vince Vaughn and Jennifer Aniston.

The new legislation will strengthen Illinois’ economy in the film and television industries by attracting more motion picture and television production companies to Illinois and creating thousands of jobs for the industries’ unionized workforce.


“We thank Governor Blagojevich for signing the bill, and for his continued support for working families in Illinois,” said Robert A. Hogan, Local 714 Secretary-Treasurer. “Senate Bill 1965 will help Chicago remain competitive in the film industry.”


The film tax credit legislation was first enacted in August 2003 when Blagojevich signed Senate Bill 785, which created the tax incentive designed to attract the film industry back to Illinois.


"Illinois has once again become the Hollywood of the Midwest," Blagojevich said. "By extending and improving the tax credit that has been instrumental in generating millions and millions of dollars for our economy, and putting thousands and thousands of people to work, you can expect to see Chicago and other parts of the state on the big screen for years to come."


The bill will provides a tax credit equal to 35 percent of the wages paid to Illinois residents working on television and film projects shot in Illinois. Productions that are 30 minutes or more qualify for the tax credit if at least $100,000 is spent on Illinois labor.

“The film tax credit is a great incentive program which has helped to bring film production to the state of Illinois,” said Vince Vaughn, producer and star of The Break-Up. “This piece of legislation made it financially attractive for the production of The Break-Up to shoot entirely in my hometown of Chicago, and will continue to entice future projects to the state.”

Senate Bill 1965 also gives some filmmakers an additional financial benefit by allowing them to transfer unused tax credits to other companies that want to make TV shows and movies in Illinois.


0 Comments:

Post a Comment

<< Home