NEWS
Posted 3 August, 2008 in OK News
Governor Brad Henry recently signed SB 1956, which increases the Oklahoma Film Enhancement Rebate from 15% to 17% if a production company spends at least $20,000 for either (1) the use of music created by a resident that is recorded in Oklahoma or (2) the cost of recording songs or music in the state for use in the production. The enhanced film rebate is effective July 1, 2009.
Posted 3 May, 2008 in OK News
Dear film and music industry member,
As we approach the last stretch of our 2008 Oklahoma legislative session, I am providing you with an update on the status of this year’s initiatives designed to bolster our Oklahoma industries. So far, two of our initiatives have passed and two are still under consideration.
As detailed below, HCR 1047, the resolution which provides for the designation of a state rock & roll song in conjunction with the 2009 launch of the Oklahoma History Center ’s exhibit, Another Hot Oklahoma Night, was passed unanimously by the Senate on April 22 and is now adopted. In the first week of its launch, the rock song website, www.oklahomarocksong.org, has received approximately 4500 unique visitors and over 900 nominations of a total of 192 songs. Visitors have logged on from all fifty states in the U.S. and from as far away as the UK , Australia , Norway and Thailand . For more information or to vote, you can also go to our website at www.oklahomafilm.org.
We are also very pleased to announce that Senate Bill 3198, which provides for the creation of a task force to study approaches to creating a statewide Creative Artists Guild, was also recently signed into law by Governor Henry.
House Bill 2583, which contains revisionary language for the Oklahoma Film Enhancement Rebate Program and the Tourism Development Act, and Senate Bill 2129 which contains revisionary language for the Qualified Venture Capital Company Tax Credit, are both going back to conference committee and are awaiting committee assignment. Our industries may still have work to do in order to get these bills passed. Once I know to which committees the two remaining bills have been assigned, I will notify you so that you may weigh in with your legislator.
BILLS STILL IN PLAY
HB 2583 –- Representative Terry Hyman and Senator Randy Bass
Revises Oklahoma Film Enhancement Rebate Program and Oklahoma Tourism Development Act
· As a means of incentivizing the use of Oklahoma musicians, music and music facilities for the film industry, include an additional 2% rebate if the production company spends at least $20,000 for music created by Oklahoma residents or for recording music in Oklahoma .
· Refine Loanout/LLC Language based on Oklahoma Tax Commission input.
· Expand the distribution requirements to include a provision for the inclusion of nationally recognized network or cable television pilots
· In an effort to keep up with industry trends, expand definitions to include not only “film and music production facilities”, but also “digital media” facilities.
· Lower the minimum expenditure threshold for participation from $500,000 to $100,000 for music production and post production facilities and $350, 000 for film production, post production, visual effects and digital media facilities to encourage development of facilities in Oklahoma at more practical thresholds, particularly for music.
Passed the Senate Floor 32-16 on April 15; On April 22, the bill was sent back to conference committee since it now has a $50,000 impact. Currently awaiting committee assignment.
SB 2129 –– Sen. Mazzei, Reps. Peterson and Brown - Revises Qualified Venture Capital Company Tax Credit, the Small Business Capital Formation Incentive Act and the Rural Venture Capital Formation Incentive Act.
As a follow-up to 2006 legislative amendments that closed loopholes to ensure the tax credits were providing the desired stimulus to the Oklahoma economy, this legislation seeks to close remaining loopholes by ensuring that the tax credits are calculated on amounts invested by the investor plus borrowed amounts for which they are personally liable for repayment. It also modifies several definitions including allowing for the possibility of more qualifying expenditures such as payroll.
Passed the House Floor 85-5 on April 24. As of April 30, several amendments have been added resulting in a fiscal impact being attached to the bill. It has been sent back to conference committee where it is currently awaiting committee assignment.
BILLS/RESOLUTIONS PASSED
HCR 1047 - Representative Joe Dorman - Oklahoma Rock & Roll Song Resolution -
Provides for the designation of a state rock & roll song in conjunction with the 2009 launch of the Oklahoma History Center ’s exhibit, Another Hot Oklahoma Night. From March 1 to August 1, 2008, the Oklahoma Historical Society will host a website located at the address www.oklahomarocksong.org, as well as have polling locations at special events and at the Oklahoma History Center, allowing the public to nominate an official Rock and Roll Song. In August 2008, the nominations will be pared to ten appropriate songs by a panel of experts. This panel will consist of an appointee by the Governor, an appointee by the Speaker of the House, and an appointee by the President Pro Tempore of the Senate, two appointees by the Office of the Oklahoma Film and Music Commission, and two appointees by the Oklahoma Historical Society. From September 1 to November 15, 2008, the public will be allowed to vote on the official Oklahoma Rock and Roll Song to be presented to the First Session of the Fifty-second Oklahoma Legislature in 2009.
Adopted unanimously on the Senate Floor on April 22. Process complete.
SB 3198 – Rep. Lee Denney - Creation of Task Force on Creative Artists Guild
This would be a new law creating aTax Force on Creative Artists Guilds to study approaches to organizing, establishing, and supporting creative artist guilds in Oklahoma in order to provide a cooperative structure for artists to advance visual and performing arts through education, exhibitions, and workshops.
Passed the Senate Floor 36-10 on April 14; Signed into law by Governor Henry on April 18.
Posted 5 April, 2008 in OK News
OklaFilm & OklaMusic
April 3, 2008
OKLAHOMA CITY– Downtown Oklahoma City, Inc. (DOKC) today announced the launch of a video contest inviting amateur and professional filmmakers to capture and present their own version of downtown Oklahoma City ’s momentum. The winner will be announced at the 22nd annual Dean A. McGee Awards to be held on Thursday, May 22, at the Skirvin Hilton Hotel and will receive a cash prize, transferrable Oklahoma City University scholarship and other awards. The winner will receive a $1,500 cash award from Downtown OKC, Inc., a $1,000 transferrable scholarship to Oklahoma City University , participation and recognition at the Dean A. McGee Awards and featured placement on the Downtown OKC website for one year.
Each video entry should focus on capturing the excitement of downtown Oklahoma City and reflective of the growing momentum brought on through increased residential housing, new hotels and mixed-use developments, expanded events, office space, entertainment and development of the Oklahoma River .
The video length must not exceed two minutes and be produced on a DVD in a Windows Media Player or QuickTime file format. All entries must be delivered to Downtown OKC, Inc., located at 210 Park Avenue, Suite 230, by Friday, May 2, and include name, address, phone number and email address.
For more information, please call Downtown OKC, Inc. at 235-3500.
Posted 22 December, 2007 in OK News
OKLAHOMA has made some changes in its incentive program. The 15% rebate is now extended to film, television and commercial productions, and requires a minimum budget of $500,000, with $300,000 spent in the state. There are also non-assignable infrastructure tax credits, and credits for local taxpayers investing in an Oklahoma film or music project who reinvest the profits in another project. More details at: www.oklahomafilm.org.
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
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