Potential bill aims to bring more Hollywood films to Colorado
DENVER (KDVR) — A new proposed bill could make Colorado a potential filming hot spot for movies and TV shows.
The proposed House Bill 24-1358 would make it easier for companies to get tax incentives from the state – making it more likely for filmmakers to use the state of Colorado as a set.
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The proposed bill reads:
The bill adds established payments to loan-out companies as a qualified local expenditure for the purpose of qualifying for the film incentive income tax credit, removes a condition that the credit is available only in years that the amount of state revenues are in excess of the limitation of state fiscal year spending by at least $50 million, and extends the deadline from February 4, 2025, to July 1, 2028, for a tax credit effectiveness study to be submitted to the finance committees of the house of representatives and the senate.”
Proposed House Bill 24-1358
A rally was held outside the Colorado Capitol in support of this bill. Screen Actors Guild – American Federation of Television and Radio Artists producers, the Colorado Film Commission and others in the industry called for the potential bill to be passed.
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One supporter of the proposed bill told FOX31 that this would benefit the state’s economy.
“If it’s a successful television show, like Yellowstone per se, which wanted to film here but we lost it because we didn’t have tax incentives. If it goes on, for seven, eight years, that’s seven, eight years of money and jobs being funneled into our economy,” said one person at the rally.
The bill was introduced in early March and advanced to a second committee on Thursday.
If this proposed bill is approved, it would make filming in the state cheaper and it could make year-after-year filming a strong possibility.
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