Lawmakers advanced one bill that would provide tax credits to music production created in the state and defeated another that would provide an exemption for royalties paid to music artists.
House Bill 155, sponsored by state Rep. Amy Carter, R-Valdosta, would make musical production companies eligible for a nontransferrable 15 percent tax credit in an effort to keep talent within Georgia.
It further proposes that companies producing a live musical or theatrical performance would have to spend at least $500,000 to receive the tax credit. For musical scoring, at least $250,000 would have to be spent, and $100,000 would have to be spent for music recording. An additional 10 percent tax credit would be offered to companies who produce work in Tier 1 and 2 counties where the state is making a strong effort to encourage investment.
See more at AJC.