§ 44-31.2-1 - Findings and purpose.
SECTION 44-31.2-1
§ 44-31.2-1 Findings and purpose. –(a) The general assembly finds and declares that the state of Rhode Island withits natural beauty, historical and architectural heritage of the state, itsmajestic natural resources including Narragansett Bay and the independence anddiversity of its citizens and neighborhoods would provide a variety ofexcellent settings from which the motion picture industry might choose alocation for filming a motion picture or television program, and together withthose natural settings, the availability of labor, materials, climate, andhospitality of its people have been instrumental in the filming of severalsuccessful motion pictures.
(b) It is recognized that the motion picture industry bringswith it a much needed infusion of capital into areas of the state which may beeconomically depressed and the multiplier effect of the infusion of capitalresulting from the filming of a motion picture or television program serves tostimulate economic activity beyond that immediately apparent on the film set.
(c) Since a significant portion of the cost of a motionpicture or television production will not be eligible for existing taxincentives due to the fact that portions of the production are carried out inanother state, it is the purpose of this chapter to provide a financialincentive to the film industry in order that the state might compete with otherstates for filming locations.
(d) The primary objective of this chapter is to encouragedevelopment in Rhode Island of a strong capital base for motion picture film,videotape, and television program productions, in order to achieve a moreindependent, self-supporting industry. This objective is divided into immediateand long-term objectives as follows:
(1) Immediate objectives are to:
(i) Attract private investment for the production of motionpictures, videotape productions, and television programs which containsubstantial Rhode Island content as defined herein.
(ii) Develop a tax infrastructure which encourages privateinvestment. This infrastructure will provide for state participation in theform of tax credits to encourage investment in state- certified productions.
(iii) Develop a tax infrastructure utilizing tax creditswhich encourage investments in multiple state-certified production projects.
(2) Long-term objectives are to:
(i) Encourage increased employment opportunities within thissector and increased competition with other states in fully developing economicdevelopment options within the film and video industry.
(ii) Encourage new education curricula in order to provide alabor force trained in all aspects of film production.