We find ourselves in the middle of one of the greatest wealth transfer periods of all time. Those with wealth must decide whether they want to make transfers, and if they do, they must decide how much, to whom, when and in what structure?
Sponsor Generated Content
The measure, sponsored by House Minority Leader Mark Ferrandino, D-Denver, and Rep. Tom Massey, R-Poncha Springs, passed the committee Thursday by a vote of 10 to 3.
The bill would increase incentives from 10 to 20 percent of the total amount of a production company’s qualified local expenditures. It also requires Colorado production companies receiving incentives to employ at least 50 percent Colorado residents, up from the current 25 percent requirement.
“Encouraging more film production in Colorado brings good jobs, good paychecks and notoriety to Colorado for our state’s natural beauty,” Rep. Ferrandino said. “This morning’s decision to fund our film incentives program is a great example of Democrats and Republicans working together to keep Colorado’s economy going and get more Coloradans back to work.”
In addition, the bill would shift $3 million from the general fund to the state Office of Film, Television and Media.