As expected, the $125 million tax credit intended to lure Hollywood film and TV productions to Arizona has become law in the state, having been passed by both houses of the state’s legislature.
Arizona Governor didn’t sign the bill. Doug Ducey signed the bill, but he nevertheless The veto was not granted. His lack of commitment to the program was not explained.
The tax credit bill created the Arizona Motion Picture Production Program, which will cover 15–20% of production expenses, capping annually at $75 million to start but eventually rising to $125 million over three years. Backers hope that Arizona will be able to compete with New Mexico in film and TV production by retaining the tax credit until 2043.
Qualifying productions are required to film primarily in Arizona, hire local crew members and also feature pre-production and post-production work within the state’s borders. Additionally, the tax break depends on how much was spent on the project. Productions below $10 million will be eligible for a 15% credit while productions over $35 million may qualify for up to 20%.