Current News

HOUSE CHEERS HB 1325 TAX CREDIT INCENTIVE & SENATE COMMITTEE PASSES SB 96 W/ AMENDMENTS

4/24/2007

The House bill upheld the transferable tax credit with funding of $25 million per year for each of three years.

A number of representatives, Democrats and Republicans, stood up and voiced their support for the bill before the vote was taken.

Furthermore, Rep. Kravitz stated that Rep. Davis, who is recovering from surgery, intends to make a triumphant return to the floor of the House next Thursday, and hopes the Senate will have resolved any differences by then so they can possibly have a bill-signing with Rep. Davis there.

The House will now send HB 1325 to the Senate.

In the Senate, the Finance and Tax Committee heard SB 96 this morning and placed a ‘traveling amendment’ on the bill, which would make the incentive a $10 million, one year appropriation, and passed it on a 5-0 vote.

Senator Saunders made another excellent presentation of the bill, pointing out individually how we stack up against other incentive states, and stating firmly that the amendment is harmful to the incentive.

In today’s committee, they stated the Senate staff-drafted amendment was necessary in order to pass the bill out of the committee and keep SB 96 moving along. By passing it as a traveling amendment means that it is attached to the original bill, but does not replace it. The senators all spoke out in favor of the positive policy components of the bill. As there are nine days left, they voiced that it is subject to change as negotiations on the budget and funding of bills continue.

Today’s actions are clear evidence that our tax credit incentive is still a priority for both the House (Idea 90) and the Governor, and at this point, the Senate has many options available as negotiations continue.

Stay tuned!

-----------------------------------------------------------------------
Governor’s Office of Film & Entertainment
The Capitol, Suite 2001
Tallahassee, FL 32399-0001
(877) FLA-FILM (352-3456)

<< back to news listing

back to top