Bill Text: MS HB839 | 2013 | Regular Session | Introduced
Bill Title: Mississippi Motion Picture Incentive Act; increase the amount of rebates authorized under.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2013-02-05 - Died In Committee [HB839 Detail]
Download: Mississippi-2013-HB839-Introduced.html
MISSISSIPPI LEGISLATURE
2013 Regular Session
To: Tourism; Ways and Means
By: Representative Smith (39th)
House Bill 839
AN ACT TO AMEND SECTION 57-89-7, MISSISSIPPI CODE OF 1972, TO INCREASE TO $5,000,000.00 THE AMOUNT OF PAYROLL THAT MAY BE APPLIED TO THE MISSISSIPPI MOTION PICTURE INCENTIVE ACT REBATE; TO AUTHORIZE A MOTION PICTURE PRODUCTION COMPANY TO RECEIVE A REBATE EQUAL TO 5% OF THE AMOUNT THE MOTION PICTURE PRODUCTION COMPANY SPENDS ON THE PAYROLL PAID FOR ANY EMPLOYEE WHO IS AN HONORABLY DISCHARGED VETERAN OF THE UNITED STATES ARMED FORCES AND WHOSE WAGES ARE SUBJECT TO THE MISSISSIPPI INCOME TAX WITHHOLDING LAW OF 1968; TO INCREASE THE TOTAL AMOUNT OF REBATES THAT A MOTION PICTURE PRODUCTION COMPANY MAY RECEIVE FOR A MOTION PICTURE PROJECT UNDER THE MISSISSIPPI MOTION PICTURE INCENTIVE ACT TO $10,000,000.00; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 57-89-7, Mississippi Code of 1972, is amended as follows:
57-89-7. (1) (a) A motion picture production company that expends at least Fifty Thousand Dollars ($50,000.00) in base investment or payroll, or both, in the state shall be entitled to a rebate of a portion of the base investment made by the motion picture production company. Subject to the provisions of this section, the amount of the rebate shall be equal to twenty-five percent (25%) of the base investment made by the motion picture production company.
(b) In addition to the
rebates authorized under paragraphs (a) * * *, (c) and (d) of this
subsection, a motion picture production company may receive a rebate equal to
twenty-five percent (25%) of payroll paid for any employee who is not a
resident and whose wages are subject to the Mississippi Income Tax Withholding
Law of 1968. However, if the payroll paid for an employee exceeds * * * Five
Million Dollars ($5,000,000.00), then the rebate is authorized only for the
first * * * Five Million Dollars ($5,000,000.00)
of such payroll.
(c) In addition to the
rebates authorized under paragraphs (a) * * *, (b) and (d) of this
subsection, a motion picture production company may receive a rebate equal to
thirty percent (30%) of payroll paid for any employee who is a resident and
whose wages are subject to the Mississippi Income Tax Withholding Law of 1968.
However, if the payroll paid for an employee exceeds * * * Five
Million Dollars ($5,000,000.00), then the rebate is authorized only for the
first * * * Five Million Dollars ($5,000,000.00)
of such payroll.
(d) In addition to the rebates authorized in paragraphs (a), (b) and (c) of this subsection, a motion picture production company may receive a rebate equal to five percent (5%) of the amount the motion picture production company spends on the payroll paid for any employee who is an honorably discharged veteran of the United States Armed Forces and whose wages are subject to the Mississippi Income Tax Withholding Law of 1968.
( * * *e) If a motion picture has physical
production activities and/or post-production activities both inside and outside
the state, then the motion picture production company shall be required to
provide an itemized accounting for each employee regarding such activities
inside and outside the state for the purposes of proration of eligible payroll
based on the percentage of activities performed in the state.
( * * *f) The total amount of rebates
authorized for a motion picture project shall not exceed * * * Ten
Million Dollars ($10,000,000.00) in the aggregate.
( * * *g) The total amount of rebates
authorized in any fiscal year shall not exceed Twenty Million Dollars
($20,000,000.00) in the aggregate.
(2) A motion picture
production company desiring a rebate under this section must submit a rebate
request to the Department of Revenue upon completion of the project. The
request must include a detailed accounting of the base investment made by the
motion picture production company and any other information required by the Department
of Revenue. Rebates made by the Department of Revenue under this section shall
be made from current income tax collections. The Department of Revenue
shall not approve any application for a rebate under subsection (1)(b) of this
section after July 1, * * *
2016.
(3) The Department of Revenue shall have all powers necessary to implement and administer the provisions of this section, and the Department of Revenue shall promulgate rules and regulations, in accordance with the Mississippi Administrative Procedures Law, necessary for the implementation of this section.
SECTION 2. This act shall take effect and be in force from and after passage.