The Montana House of Representatives advanced a bill 84-to-16 Tuesday that would give an income tax credit to film production companies.
Rep. David Bedey (R-Hamilton) who voted for House Bill 293 said tapping into the film industry would only benefit Montana and the state has to incentivize filmmakers.
“If we wish to grow our economy and diversify our economy and attract his industry into our state, we must compete with other states, that’s the fact of the matter in the film business now,” Bedey said.
The bill would give a 20% income tax credit on all production expenses made in Montana, but production companies would have to spend at least $350,000 before receiving the credit. It would also require production companies to put a Montana promotion in their film.
The proposed law took Georgia’s tax incentive as a model. Georgia also gives production companies a 20% tax credit but requires filmmakers to spend at least $500,000. However, Georgia does not have a cap on how much companies can get in credit, and HB 293 puts a limit of $5 million per year. See more at KPAX.