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Legislative Year: 2023 Change

Bill Detail: HB23-1309

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Title Film Incentive Tax Credit
Status Governor Signed (06/05/2023)
Bill Subjects
  • Fiscal Policy & Taxes
House Sponsors L. Herod (D)
M. Snyder (D)
Senate Sponsors D. Roberts (D)
S. Jaquez Lewis (D)
House Committee Finance
Senate Committee Finance
Date Introduced 04/25/2023

Current law provides a film production incentive that allows a
production company a performance-based cash rebate equal to 20%, or
in the discretion of the director of the office of economic development a
higher amount, of qualified Colorado expenditures for films, television,
series, commercials, and video games produced in the state. Based on the
recommendations of the film incentive task force report provided findings
and recommendations that the bill codifies into statute including:
  • Restructuring the film incentive program, from its current
state as a cash rebate program into a refundable income tax
credit (credit) for qualified production companies for
income tax years commencing on or after January 1, 2024,
but before January 1, 2029, that commence during a
calendar year that begins during a state fiscal year for
which there are at least $50 million of excess state revenues
that are required to be refunded above amounts being
refunded by specified existing refund mechanisms.
  • Specifying that the credit is not allowed for income tax
years beginning in any other calendar year unless the
general assembly, acting by bill, specifies a maximum
aggregate amount of such tax credits that is allowed for that
income tax year; and
  • Requiring the office of economic development and the
office of film, televison, and media to jointly review the
effectiveness of the credit and report the results of the
review to the house of representatives finance committee
and the senate finance committee, or their successor
committees, no later than February 4, 2028.

Committee Reports
with Amendments
Full Text
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Fiscal Notes Fiscal Notes (08/07/2023) (most recent)  
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