PROPOSED
HOUSE OF REPRESENTATIVES AMENDMENTS TO S.B. 1708
(Reference to Senate engrossed bill)
Page 3, between lines 41 and 42, insert:
"4. A THIRD-PARTY REVIEW OF THE RELATIVE BENEFITS TO THis STATE BASED ON AN ANALYSIS OF THE FOLLOWING:
(a) A comparison of THE ESTIMATED STATE TAX REVENUES generated by motion picture production activity TO THE CALCULATED VALUE OF THE TAX CREDIT. STATE TAX REVENUE ESTIMATES SHALL INCLUDE THE SUM OF ALL PERSONAL TAXES, TRANSACTION PRIVILEGE TAXES AND OTHER taxes IMPOSED BY this STATE.
(b) The DIRECT, INDIRECT AND INDUCED INPUTS, That RELY ON COMMONLY USED INPUT-OUTPUT ECONOMIC MODELING FOR GENERATING ECONOMIC MULTIPLIERS AND that MEASURE THE DIRECT and indirect IMPACT OF THE motion picture PRODUCTION and IDENTIFIABLE INDUCED ECONOMIC ACTIVITY, INCLUDING BENEFITS RELATED TO CONSTRUCTION ACTIVITY AND THE ASSOCIATED STATE TAX.
(c) THE DIFFERENCE BETWEEN THE CALCULATED STATE TAX REVENUE BENEFIT AND THE VALUE OF THE TAX CREDITs AS DETERMINED BY SECTIONs 43-1082 and 43-1165, AGGREGATED EACH YEAR AND REPORTED ON A CUMULATIVE BASIS IN EACH SUCCEEDING YEAR."
Page 26, line 37, after “Purpose” insert “; intent”
Line 43, after “state” insert “, and accordingly the intent of the legislature is to provide a program that creates long-term economic benefit to this state”
Amend title to conform