Signed by Governor Phil Murphy

Vote Smart's Synopsis:

Vote to pass a bill that amends requirements and availability of the Film and Digital Media Tax Credit Program in New Jersey.

Highlights:

• Establishes a tax credit for production expenses for film studios in New Jersey that spend 60% of its production expenses or over one million dollars in New Jersey (Sec. 1).

• Specifies that the tax is 35% for taxpayers designated as New Jersey film-lease production companies (Sec. 2).

• Specifies that the tax is 40% for taxpayers designated as New Jersey Studio Partners (Sec. 2).

• Requires a “filmed in New Jersey” or “produced in New Jersey” statement, or an approved logo in the end credits of the film (Sec. 1).

• Establishes additional tax credits for productions which moved to New Jersey equal to one half percent of production expenses (Sec. 2).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that amends requirements and availability of the Film and Digital Media Tax Credit Program in New Jersey.

Highlights:

• Establishes a tax credit for production expenses for film studios in New Jersey that spend 60% of its production expenses or over one million dollars in New Jersey (Sec. 1).

• Specifies that the tax is 35% for taxpayers designated as New Jersey film-lease production companies (Sec. 2).

• Specifies that the tax is 40% for taxpayers designated as New Jersey Studio Partners (Sec. 2).

• Requires a “filmed in New Jersey” or “produced in New Jersey” statement, or an approved logo in the end credits of the film (Sec. 1).

• Establishes additional tax credits for productions which moved to New Jersey equal to one half percent of production expenses (Sec. 2).

Full Bill Text