Full Text of SB2983 94th General Assembly
SB2983sam001 94TH GENERAL ASSEMBLY
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Sen. Rickey R. Hendon
Filed: 2/8/2006
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| AMENDMENT TO SENATE BILL 2983
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| AMENDMENT NO. ______. Amend Senate Bill 2983 by replacing | 3 |
| everything after the enacting clause with the following:
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| "Section 5. The Film Production Services Tax Credit Act is | 5 |
| amended by changing Sections 10 and 90 as follows:
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| (35 ILCS 15/10)
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| (Section scheduled to be repealed on January 1, 2007)
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| Sec. 10. Definitions. As used in this Act:
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| "Accredited production" means a film, video, or television | 10 |
| production that
has been certified by the Department in which | 11 |
| the aggregate Illinois labor
expenditures
included in the cost | 12 |
| of the production, in the period that ends 12 months after
the | 13 |
| time principal filming or taping of the production began, | 14 |
| exceed $100,000
for productions of 30 minutes or longer, or | 15 |
| $50,000 for productions of less
than 30
minutes; but does not | 16 |
| include a production that:
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| (1) is news, current events, or public programming, or | 18 |
| a program that
includes weather or market reports;
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| (2) is a talk show;
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| (3) is a production in respect of a game, | 21 |
| questionnaire, or contest;
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| (4) is a sports event or activity;
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| (5) is a gala presentation or awards show;
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| (6) is a finished production that solicits funds;
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| (7) is a production produced by a film production | 2 |
| company if records, as
required
by 18
U.S.C. 2257, are to | 3 |
| be maintained by that film production company with respect
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| to any
performer portrayed in that single media or | 5 |
| multimedia program; or
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| (8) is a production produced primarily for industrial, | 7 |
| corporate, or
institutional purposes.
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| "Accredited production certificate" means a certificate | 9 |
| issued by the
Department certifying that the production is an | 10 |
| accredited production that
meets the guidelines of this Act.
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| "Applicant" means a taxpayer that is a film production | 12 |
| company that is
operating or has operated an accredited | 13 |
| production located within the State of
Illinois and that
(i) | 14 |
| owns the copyright in the accredited production throughout the
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| Illinois production period or (ii)
has contracted directly with | 16 |
| the owner of the copyright in the
accredited production
or a | 17 |
| person acting on behalf of the owner
to provide services for | 18 |
| the production, where the owner
of the copyright is not an | 19 |
| eligible production corporation.
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| "Credit" means :
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| (1) the amount equal to 25% of the Illinois labor
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| expenditure approved by the Department.
The applicant is | 23 |
| deemed to have paid, on its balance due day for the year, | 24 |
| an
amount equal to 25% of its qualified Illinois labor | 25 |
| expenditure for the tax
year ; .
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| (2) for
For Illinois labor expenditures generated by | 27 |
| the employment of residents of geographic areas of high | 28 |
| poverty or high unemployment, as determined by the | 29 |
| Department, in an accredited production approved by the | 30 |
| Department after January 1, 2005, the applicant shall | 31 |
| receive an enhanced credit of 10% in addition to the 25% | 32 |
| credit ; and .
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| (3) for Illinois labor expenditures generated during | 34 |
| the use, for at least 30 days in the taxable year, of a |
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| studio facility that is located in the City of Chicago and | 2 |
| that is comprised of 175,000 or more square feet, in an | 3 |
| accredited production approved by the Department after | 4 |
| January 1, 2006, the applicant shall receive an enhanced | 5 |
| credit of 5% in addition to the credits under items (1) and | 6 |
| (2).
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| "Department" means the Department of Commerce and Economic | 8 |
| Opportunity.
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| "Director" means the Director of Commerce and Economic | 10 |
| Opportunity.
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| "Illinois labor expenditure" means
salary or wages paid to | 12 |
| employees of the
applicant for services on the accredited
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| production;
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| To qualify as an Illinois labor expenditure, the | 15 |
| expenditure must be:
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| (1) Reasonable in the circumstances.
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| (2) Included in the federal income tax basis of the | 18 |
| property.
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| (3) Incurred by the applicant for services on or after | 20 |
| January 1, 2004.
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| (4) Incurred for the production stages of the | 22 |
| accredited production, from
the final
script stage to the | 23 |
| end of the post-production stage.
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| (5) Limited to the first $25,000 of wages paid or | 25 |
| incurred to each
employee of
the production.
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| (6) Exclusive of the salary or wages paid to or | 27 |
| incurred for the 2 highest
paid
employees of the | 28 |
| production.
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| (7) Directly attributable to the accredited | 30 |
| production.
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| (8) Paid in the tax year
for which the applicant is | 32 |
| claiming the credit
or no later than 60 days after the end | 33 |
| of the tax
year.
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| (9) Paid to persons resident in Illinois at the time |
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| the payments were
made.
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| (10) Paid for services rendered in Illinois. | 3 |
| (11) Paid to employees earning $15 or more per hour.
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| (Source: P.A. 93-543, eff. 1-1-04; 94-171, eff. 7-11-05.)
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| (35 ILCS 15/90)
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| (Section scheduled to be repealed on January 1, 2007)
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| Sec. 90. Repeal. This Act is repealed on January 1, 2008
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| 2007 .
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| (Source: P.A. 93-543, eff. 1-1-04; 93-840, eff. 7-30-04; | 10 |
| 94-171, eff. 7-11-05.)
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| Section 99. Effective date. This Act takes effect upon | 12 |
| becoming law.".
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