Maryland Tax Credit Update

The Maryland General Assembly adjourned 19 days early in light of the current pandemic facing our country and the world. While this was a challenging year in Annapolis, the Film Production Tax Credit program survived attacks on a number of fronts. All tax credit programs were reviewed as possible sources to fund recommendations made by the Kirwan Commission, a 26-member panel working to rewrite the education funding formula, and, more recently, COVID-19 resources. Our program was pulled out of a bill that sought to eliminate it altogether by 2023. Additionally, there was a piece of legislation that would have reduced the funding to $10 million per year, respectively.
 
Ultimately, the program ended up with $12 million each year moving forward. As you know, we sought to increase the funding, and while it is disappointing this did not happen, we feel fortunate overall. Our job going forward will be to continue to educate our legislators on the importance of the film industry to the region.
 
We would like to extend our appreciation to you and the other industry advocates for your hard work and contributions over these past few months. We could not do this work without your help. Please stay healthy and well. We look forward to seeing you out on set in the hopefully not too distant future!