The new tax bill will affect Arizona, which for more than a decade, has lost out as a location for filming movies and TV shows. The bill was introduced on Wednesday and the other hope is the legislature would even the playing field. In addition, add new jobs to this rebirth of the entertainment industry.

Tax Bill: “Motion Picture Productions: Tax Credit”

Known as “Motion Picture Productions: Tax Credit,” SB 1708 was introduced by State Senate David Gowen. The goal is to provide tax refunds to studios based on how much they do spend actually making a film in the state.

Also, the bill is really meant to help attract the major studios to shoot at places like the Mescal movie set. Plus other scenic places in our state.

More Jobs: Hollywood is Calling!

“Now the hope is that there will be more jobs coming that is because Hollywood studios will actually want to come here now,” said Arizona Film Expo chair Daryl Mallett.

For the past 12 years, Mallett has been lobbying state lawmakers. It is for a tax rebate bill that would entice the Hollywood studios to make Arizona, really a place for making movies again.

In fact, SB 1708 is the long-anticipated legislation Mallett has really been hoping for.

“Moreover, it is not a rebate. It is really the refund of the money we have been collecting from them. In fact, we are not giving state money away,” Mallett said. “Also it is really us hanging our shingle out. Therefore, we are saying we are not a black spot on the map. You don’t have to go to the Southwestern or Southern states. You can come here again.”

The tax refund structure the bill as such: If there is a production that spends $10 million, they will get a 15% refund. Also, if they spend between $10 million and $35 million, the companies would get 17.5% back. Moreover, if anything is over $35 million, the company will get a 20% refund. Additionally, the companies are going to use local crews to get the extra 2.5% refund.