Posted 29 May, 2007 in OK News
Senate Bill 623 passes, paving way for increased film production in Oklahoma
May 29, 2007 - The Oklahoma legislature recently passed the state’s latest film
bill, Senate Bill 623, by a resounding vote. The Senate passed the bill on May
23 by a vote of 38-6, followed by the House on May 24, with a vote of 95-3.
The bill now sits on Governor Henry’s desk awaiting signature.
Senate Bill 623 modifies the existing Oklahoma Film Enhancement Rebate Program
or “Compete with Canada Act� by lowering the minimum budget required to
participate from $2 million down to $500,000 to be eligible for a 15 percent
rebate on Oklahoma expenditures. It also allows for the inclusion of some
additional qualifying expenditures such as salaries for cast, producer, writer
and director if those salaries are paid to Oklahoma companies. It further
modifies the distribution requirements for a film.
“The passage of SB 623 demonstrates that the Legislature sees the potential
filmmaking has to offer the economy and image of Oklahoma,� Tourism &
Recreation Department Executive Director Hardy Watkins said. “Our lawmakers
have provided the additional tools we need to be competitive in this
influential industry.�
“With many award winning films now being shot for well under $2 million, I feel
strongly that the passage of this bill paves the way for increased production
in Oklahoma,� stated Jill Simpson, Director of the Oklahoma Film & Music
Office. “Bringing film production into a state these days comes down to its
ability to offer soft money to the production. Film companies are going where
there are competitive incentives to reduce their budget line items. The great
thing about Oklahoma, is that once we attract the industry’s attention with our
incentives, we are in a great position to close the deal due to the diversity
of terrain within our borders and the low cost of doing business here,� added
Simpson.
Economic impact for the Oklahoma film industry in 2006 was at $18.9 million.
With two feature films currently preparing to shoot in Oklahoma in July, both
budgeted just under two million dollars, that number is expected to increase
for 2007.
The Oklahoma Film & Music Office works to attract film, television, video and
music industries to Oklahoma and to promote and expand those industries within
the state.
Contacts: Jill Simpson Director,
Film & Music Office (405) 230-8440
