BIRMINGHAM, Alabama — Film productions companies working in Alabama will be eligible for more money under new legislation signed into law by Gov. Robert Bentley on Thursday.
The bill, HB243, would allow for production companies to receive incentives on up to $20 million in investment from the current $10 million cap. Those incentives provide rebates of 25 percent of expenditures and 35 percent of the payroll of Alabama residents hired. It would leave the $500,000 project minimum intact.
The new law also increases the total funds that can be rebated to qualified productions each year. In 2013 and 2014, the current $10 million total will increase to $15 million. In 2015 and subsequent years the total will be $20 million.
The legislation was sponsored by Rep. Terri Collins, R-Decatur.
“This law demonstrates Alabama is open for business when it comes to competing for movie and TV productions, and our state will benefit from the investments these projects bring with them,” Collins said in a statement.
State legislators last month decreased the incentives caps from levels in the original version of the bill.