HB 1498: RELATING TO TAXATION.

Increases the motion picture, digital media, and film production income tax credit for qualified productions that utilize qualified production facilities located within the State.  Changes the cap amount and aggregate cap amount of the motion picture, digital media, and film production income tax credit to unspecified amounts.  Imposes the manufacturing GET rate on motion picture, digital media, and film productions and repeals the provision in the definition of "qualified production costs" that applied the term to mean costs incurred that are subject to the highest GET rate.  Exempts from the GET amounts received by a motion picture project employer from a client equal to amounts that are disbursed by the motion picture project employer for employee wages, salaries, payroll taxes, insurance premiums, and employment benefits and payments to loan-out companies.  (HD1)