Wednesday, June 9, 2010

New Jersey Film and Television Tax Credit Program

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Film producers, production workers, union organizers and even a TV actress put a touch of drama into a state Senate Budget Committee hearing in Secaucus, denouncing Governor Christie’s plan to suspend a film and television tax credit program in New Jersey.

Representatives from "Mercy" and "Law and Order: Special Victims Unit" urged Republican Gov. Chris Christie to reconsider ending the 20 percent tax credit the state has offered since 2006 to lure movie and TV production companies to the state. Both TV series are filmed largely in New Jersey.

The program provides $10 million a year in tax credits for television and film productions. Companies that spend 60 percent of their production budget in New Jersey are eligible for a tax credit of up to 20 percent of that expenditure.

Supporters say the economic activity generated by film and television companies attracted by the program brings in far more in taxes than is spent on the credits. But Christie’s office released a statement saying the state’s budget shortfall was so dire that “cuts had to be made and priorities considered in closing a $10.9 billion budget gap.”

The interest in New Jersey has a lot to do with the money the film and television industry spend to market and promote New Jersey based shows.

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