Vote Smart's Synopsis:

Vote to pass a bill that establishes the Nevada Studio Infrastructure Jobs and Workforce Training Act to expand film and media production.

Highlights:

• Establishes the Nevada Studio Infrastructure Jobs and Workforce Training Act to expand film and media production in the state (Sec. 1-16).

• Requires the Office of Economic Development to enter into a development agreement with the lead participant of the Project to establish (Sec. 9):

• Certain criteria that the Project is required to satisfy in exchange for production  companies located at the Project to be eligible for film infrastructure transferable tax credits; and

• Certain requirements for new capital investment in this State and the generation of direct production expenditures in this State, which the Project must meet, with certain exceptions.

• Authorizes production companies located at the Project to apply, on or after June 1, 2026, to the Office for film infrastructure transferable tax credits for qualified productions produced, in whole or in part, at the Project (Sec. 10).

• Authorizes such credits to be used against the modified business tax, insurance premium tax, or gaming license fee, or any combination of these taxes and fees (Sec. 10).

• Establishes the qualified production expenditures which are the basis for calculating the amount of film infrastructure transferable tax credits, including, without limitation (Sec. 11):

• Purchases and rentals of property or services from a Nevada business;

• Wages and fringe benefits paid to employees who are Nevada residents or other personnel who perform services in this State on the qualified production;

• Certain compensation paid to producers in their capacity as producers; and

• Amounts paid to personal service corporations for the services of certain persons on the qualified production.

• Specifies that the base amount of film infrastructure transferable tax credits is 30 percent of the amount of qualified direct production expenditures calculated under section 11 (Sec. 12).

• Limits the total amount of film infrastructure transferable tax credits issued under sections 1-16 to $95,000,000 for each fiscal year beginning on or after July 1, 2028 (Sec. 13).

• Prohibits the approval of an application for film infrastructure transferable tax credits if the application is submitted in a fiscal year that begins on or after July 1, 2043 (Sec. 13).

• Requires a production company to (Sec. 14):

• Commence principal photography within a certain period after the Office approves an application  for a certificate of eligibility for film infrastructure transferable tax credits;

• Complete the qualified production within 18 months after the date of commencement of principal photography, except that the Office may extend this  period for not more than 6 months; and

• Submit certain required information within the required period.

• Requires a production company to repay film infrastructure transferable tax credits under certain circumstances (Sec. 15).

• Requires the lead participant in the Project to submit certain reports to the Governor,  the Legislature, and the Office, and requires the Office to post such reports on its Internet website (Sec. 15.7).

• Requires certain reports to be made to the Legislature concerning film infrastructure transferable tax credits (Sec. 16).

Full Bill Text