(a) (1) The Director of the Arkansas Economic Development Commission shall offer a tax credit or a rebate of twenty-five percent (25%) to a qualifying production company that has submitted an approved application for a tax incentive under § 15-4-2007 for a tax incentive on all qualified production costs in connection with the postproduction of an approved state-certified film project.(2) A state-certified production shall be granted an additional tax incentive:(A) In the amount of ten percent (10%) for:(i) The payroll of below-the-line employees who are: (a) Full-time residents of Arkansas; or (b) Veterans; or(ii) Expenditures paid to a veteran-owned business for qualified production costs with the state-certified production;(B) In the amount of five percent (5%) for either of the following:(i) Hiring below-the-line employees whose full-time permanent address is located in a Tier 3 or Tier 4 county in the annual ranking of counties established by the Arkansas Economic Development Commission under § 15-4-2704; or(ii) Expenditures paid to a person or business for qualified production costs with a state-certified production located in a Tier 3 or Tier 4 county in the annual ranking of counties established by the commission under § 15-4-2704; and(C) In the amount of five percent (5%) for producing a multi-project production, including without limitation a television series and a multi-film project.
(1) The Director of the Arkansas Economic Development Commission shall offer a tax credit or a rebate of twenty-five percent (25%) to a qualifying production company that has submitted an approved application for a tax incentive under § 15-4-2007 for a tax incentive on all qualified production costs in connection with the postproduction of an approved state-certified film project.
(2) A state-certified production shall be granted an additional tax incentive:(A) In the amount of ten percent (10%) for:(i) The payroll of below-the-line employees who are: (a) Full-time residents of Arkansas; or (b) Veterans; or(ii) Expenditures paid to a veteran-owned business for qualified production costs with the state-certified production;(B) In the amount of five percent (5%) for either of the following:(i) Hiring below-the-line employees whose full-time permanent address is located in a Tier 3 or Tier 4 county in the annual ranking of counties established by the Arkansas Economic Development Commission under § 15-4-2704; or(ii) Expenditures paid to a person or business for qualified production costs with a state-certified production located in a Tier 3 or Tier 4 county in the annual ranking of counties established by the commission under § 15-4-2704; and(C) In the amount of five percent (5%) for producing a multi-project production, including without limitation a television series and a multi-film project.
(A) In the amount of ten percent (10%) for:(i) The payroll of below-the-line employees who are: (a) Full-time residents of Arkansas; or (b) Veterans; or(ii) Expenditures paid to a veteran-owned business for qualified production costs with the state-certified production;
(i) The payroll of below-the-line employees who are: (a) Full-time residents of Arkansas; or (b) Veterans; or
(a) Full-time residents of Arkansas; or
(b) Veterans; or
(ii) Expenditures paid to a veteran-owned business for qualified production costs with the state-certified production;
(B) In the amount of five percent (5%) for either of the following:(i) Hiring below-the-line employees whose full-time permanent address is located in a Tier 3 or Tier 4 county in the annual ranking of counties established by the Arkansas Economic Development Commission under § 15-4-2704; or(ii) Expenditures paid to a person or business for qualified production costs with a state-certified production located in a Tier 3 or Tier 4 county in the annual ranking of counties established by the commission under § 15-4-2704; and
(i) Hiring below-the-line employees whose full-time permanent address is located in a Tier 3 or Tier 4 county in the annual ranking of counties established by the Arkansas Economic Development Commission under § 15-4-2704; or
(ii) Expenditures paid to a person or business for qualified production costs with a state-certified production located in a Tier 3 or Tier 4 county in the annual ranking of counties established by the commission under § 15-4-2704; and
(C) In the amount of five percent (5%) for producing a multi-project production, including without limitation a television series and a multi-film project.
(b) To qualify for a tax incentive under this section, a production company shall spend at least fifty thousand dollars ($50,000) within a six-month period in connection with the production of one (1) project.
(c) A postproduction tax incentive shall not be processed until the production company has met in full all obligations to each Arkansas institution and vendor owed for products or services in the state.
(d) The maximum total tax incentives that may be claimed for a qualified expenditure under this section is thirty percent (30%) of the qualified expenditure.