HARTFORD — Three NBC Universal executives came to the legislative office building Thursday to praise the state’s film tax credit program and to tell lawmakers that changing the program could scare television and film companies from doing work in Connecticut. <\/p>\n
The legislature’s commerce committee held a public hearing on a bill that would make the program a tax rebate program rather than a tax credit program. Sen. Gary LeBeau, D-East Hartford, says the move would eliminate the third party involved in the tax credit process. A transfer of billing is required because film companies do not have tax liability, and the third party takes a percentage of the tax credit, he says.<\/p>\n
The proposed bill would also require that 50 percent of a project’s total production be located in studios in Connecticut. <\/p>\n
The film industry took issue with both components of the bill, saying that filming for most projects takes place in a variety of locations and that a tax rebate would make the companies unsure about annual appropriations. <\/p>\n
With the exception of talk shows and sitcoms with live audiences, few projects are confined to a studio, said Richard Ross, the senior vice president of production for NBC Universal. <\/p>\n
NBC Universal’s Brian O’Leary added that the transferable tax credits show film companies that Connecticut is a partner, and it shows that the state wants to help with industry growth. A tax rebate is a risk because it would be tied to the state budget, he said. <\/p>\n
NBC Universal has a studio in Stamford and has moved three of its talk shows to Connecticut, including the “Jerry Springer Show.”<\/p>\n
LeBeau listened Thursday as NBC Universal and others in the film industry shared their concerns, saying that he is not looking to hurt the program, but is trying to help the state.<\/p>\n
“The bill is not out there for frivolous reasons,” he said. “We’re trying to get the biggest bang for our buck.”<\/p>\n
The state’s film tax credit program took effect in 2006. Former House Speaker James A. Amann, D-Milford, was instrumental in getting the legislation passed. <\/p>\n
The credits are intended to promote the development of a permanent film industry in Connecticut, and companies can get up to 30 percent on qualified digital media and motion picture production, pre-production and post-production expenses incurred in the sate. <\/p>\n
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