BOSTON – Gov. Deval Patrick, Senate President Therese Murray and House Speaker Salvatore F. DiMasi hope that a series of tax incentives will make Massachusetts a more attractive destination for motion picture and television production projects.
“Massachusetts has a lot going for it,” said Patrick. “But the creative economy is extremely mobile, and we cannot stand still in the face of stiff challenges from other states.”
The legislative package would expand a law passed in 2005 that offers production companies a series of tax credits and exemptions to encourage film production. In the 15 months since the credits took effect, Massachusetts has attracted three films to shoot and locate in the state.
Under the current law, credits are limited to $7 million per film and apply only to films costing $250,000 or more. The proposal released removes the cap and lowers the $250,000 floor to $50,000, for purposes of both the income tax credit and the sales tax exemption.
Thirty-nine other states have enacted film tax credits of their own, including Rhode Island and Connecticut.
