SB496: Revises provisions relating to the film industry. (BDR S-1039)

Legislative Summary

AN ACT relating to economic development; enacting the Nevada Film Studio Infrastructure Act; requiring the Office of Economic Development to enter into a development agreement with the Las Vegas Media Campus Project and the Summerlin Production Studios Project to establish certain development and investment criteria for the development of infrastructure for the production of motion picture and other qualified productions; authorizing a production company located at the Las Vegas Media Campus Project or the Summerlin Production Studios Project to apply to the Office of Economic Development for film infrastructure transferable tax credits for qualified productions produced at the sites of the Projects; enacting provisions governing the eligibility for and calculation of film infrastructure transferable tax credits for qualified productions produced at the Projects; revising provisions relating to noninfrastructure transferable tax credits for motion picture and other qualified productions; authorizing an additional amount of noninfrastructure transferable tax credits; establishing the Board for Nevada Film, Media and Related Technology Education and Vocational Training and the Account for Nevada Film, Media and Related Technology Education and Vocational Training; providing for the distribution of money from the Account to certain entities and organizations that provide education and vocational training for workforce development for the production of qualified productions in this State; and providing other matters properly relating thereto.