Posted 31 January, 2010 in MA News
On January 27, Governor Deval Patrick suggested to the legislature that the qualified spending on film & TV production in Massachusetts be temporarily capped in response to the state budget crisis. The proposed cap would be $50 million in tax credits per year for the next two years. This equates to $200 million of qualified production spend per year. If enacted, all above-the-line spending would still qualify without limitation, and the proposed temporary cap would automatically expire in 2012, returning the incentive program to its current “no cap” status. Stay tuned, if you remember last year Massachusetts implemented a salary cap only to immediately remove it.
Governor Patrick released his fiscal year 2011 supplemental budget. For more information visit,
http://www.mass.gov/bb/h1/fy11h1/prnt_11/exec_11/pbudbrief18.htm
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