NJ Assembly Approves Tax Credit for Film Production
TRENTON, N.J. (AP) – The New Jersey Legislature has approved a measure to expand New Jersey’s tax credit program for film and digital media production.
The bill was approved by both houses on Monday and now goes to Gov. Chris Christie.
The measure is part of the “Back to Work NJ” economic development package being pushed by Democrats in the Legislature.
The tax credit program was suspended last year as Christie worked to close an $11 billion budget deficit.
Proponents say the tax credits are a valuable economic development tool. Forty-four states and the District of Columbia have tax credit programs for production companies.
The credits would be restored on July 1.
(Copyright 2011 by The Associated Press. All Rights Reserved.)