Governor Nathan Deal has signed House Bill 199, providing tax credits to post production companies in Georgia.
The bill passed the House in February and cleared the Senate 38-17 in March, with an effective date of July 1 this year.
HB 199 provides a 20 percent tax credit to post production companies with a payroll of $250,000 or more in Georgia, and who spend at least $500,000 in tax credits per year. A $5 million cap will be in effect the first year (2018), $10 million the following year, and $15 million between 2020 and 2022. No individual company can receive more than 20 percent of the statewide credit available each year.
“This bill just increases the opportunities to bring more business to Georgia and expand the movie industry,” said Sen. Jeff Mullis (R-Chickamauga) during the Senate session in March.
An additional provision in the bill will make it easier for video gaming companies to qualify for tax credits, reducing total Georgia payroll qualifying requirements from $500,000 to $250,000 if the gaming company makes a base investment of $500,000 or more during a two-year period.