HB 451- Relating to Entertainment Industry Tax Credit Program
On Tuesday, March 31st, HB 451, relating to Entertainment Industry Tax Credit Program, by Rep. Mike Miller (R-Orlando) passed through its second stop in the House Finance & Tax Committee with 12 yeas and 5 nays.

The bill proposes significant modifications to the current incentives and benefits the state offers for companies within the film and entertainment industry. HB 451 both modifies the processes by which companies may receive such tax credits and exemptions and creates an additional incentive, the “Production Action Fund.”

The next stop for HB 451 is the House Economic Affairs Committee. AIF’s Senior Vice President of State and Federal Affairs, Brewster Bevis, stood in support of this bill.

AIF supports the Entertainment Tax Credit Program due to the jobs a more robust film industry would produce here in the state of Florida.

SB 1046- Relating to the Entertainment Industry
On Thursday, April 2nd, SB 1046, relating to the Entertainment Industry, by Senator Nancy Detert (R-Venice) unanimously passed through the Senate Appropriations Subcommittee on Transportation, Tourism, and Economic Development committee with 9 yeas and 0 nays.

This bill restructures Florida’s approach to the entertainment industry in the state. One main benefit of this bill that is important to AIF and its members is the increased percentage of Florida residents that must be employed in qualified productions.

The next stop for SB 1046 is the Senate Appropriations Committee. AIF’s Senior Vice President of State and Federal Affairs, Brewster Bevis, stood in support of this bill.

AIF supports providing tax credits to the Entertainment Industry here in Florida, as it will create more jobs for the citizens of Florida.

SB 7014- Relating to Corporate Income Tax
On Wednesday, April 1st, SB 7014, relating to the Corporate Income Tax, by the Senate Finance and Tax Committee was heard on the Special Order Calendar of the Senate floor for its 2nd reading. After the 2nd reading the Senate substituted SB 7014 for it house companion HB 7009.

This bill updates Florida’s Corporate Income Tax Code by adopting the Internal Revenue Code as in effect on January 1, 2015. SB 7014, which is now substituted for HB 7009, will move on to the desk of the Governor for his signature.

 AIF supports continuing to phase out the corporate income tax.