ATLANTA (April 10, 2017) | On March 30, 2017, the Georgia General Assembly passed House Bill 155, titled the Georgia Musical Investment Act. HB 155, carried by Sen. Jeff Mullis (R – Chickamauga) and sponsored by Rep. Amy Carter (R – Valdosta), would create an income tax credit for production companies that handle state certified musical or theatrical productions.
“I want to commend the Georgia General Assembly for passing HB 155,” said Sen. Mullis. “This initiative will create jobs and help grow the music industry in the state. This legislation will attract investments from around the nation and will help an industry that has done so much for the growth of Georgia’s economy already.”
Under HB 155, a music industry production company would be allowed a tax credit equal to 15 percent of the company’s qualified production expenditures. Additionally, counties would be designated as tier one or tier two by the commissioner of the Department of Community Affairs. Depending on which tier designation they fall under, music production companies would also be allowed an additional tax credit equal to five percent for such production company’s qualified production expenditures. HB 155 will now go to the governor for his signature.
Additional information on HB 155 can be found on the link below:
http://www.legis.ga.gov/legislation/en-US/Display/20172018/HB/155
# # # #
For Immediate Release:
April 10, 2017
For Information Contact:
Ines Owens, Acting Director
Ines.owens@senate.ga.gov
404.656.0028