Early in the morning on 10/31, SB1911 cleared the House with a 76-33 vote and the Senate with 37-19-1. The next stop is the Governor's desk for signature. This means, as a state, Illinois will have a 35% film tax credit, but it also means that at Flyover Film Studios we will have a 40% tax credit (including the outside of Chicago 5% bump) with the potential of 45% with the sustainability bump*** (retroactive to July 1, 2025 & once the Governor signs the bill).
There are also additional new bumps and enhancements. For example, there is an additional 5% bump for television series that are relocating to Illinois from another jurisdiction****, as well as wages for up to 13 nonresidents in non-actor positions that can qualify for a 30% tax credit*****. Wages for nonresident actors have increased and are now a 30% tax credit on a tiered system based on the production's budget: 4 actors for spending under $20,000,000; 5 actors for spending between $20,000,000 and $40,000,000; 6 actors for spending of $40,000,000 or more.
The amendment extends the life of the entire program. The sunset date for awarding new film tax credits is moved from January 1, 2033, to January 1, 2039
I will continue to monitor the progress of the bill and keep everyone updated on the progress once it gets signed into law.
Flyover Film Studios Stages - Photo by Jason Lindsey
*35% Credit for Illinois production spending, which includes using tangible personal property, acquiring services from Illinois vendors, and labor expenditures for Illinois residents.
**5% Credit for Illinois labor expenditures in counties outside of Cook, DuPage, Kane, Lake, McHenry, and Will counties
***5% Credit for Illinois production (labor and expenses) spending for productions that are certified as "green" by the Department
****5% Credit for Illinois production (labor and expenses) spending for television series that are relocating to Illinois from another jurisdiction.
*****30% Credit for wages paid to nonresidents for services on the production
This post first appeared on Flyover Film Studios: https://www.flyoverfilmstudios.com/post/newly-passed-illinois-film-tax-incentives-to-strengthen-downstate-production