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NEW JERSEY CONSIDERS TAX CREDIT SUSPENSION
The bad news regarding state film and television tax credits for films continues. Yesterday, it was reported that Pennsylvania is out of money for new projects applying for their incentive. Now, New Jersey is contemplating halting their incentive for fiscal year 2011, which begins July 1, 2010. Here is a letter I received from Tax Credits LLC.
Senator Paul A. Sarlo, Chairman of the Senate Budget and Appropriations Committee, has called a special public Committee hearing to discuss the future of New Jersey’s Film and Digital Media Tax Credit Program. The Hearing will take place on Wednesday, June 9th, from 11:00 am – 1:00 pm at NBC/Universal’s “Mercy” Studio,10 Enterprise Avenue North in Secaucus (just off Meadowlands Parkway).
Introduced last November, the Garden State Film and Digital Media Jobs Act,(Senate, No.3002), which was co-sponsored by Senators Paul Sarlo and Thomas Kean Jr, seeks to enhance the current tax credit program for filmmakers…to attract even more films to the state, stimulate local business and create more jobs. Unfortunately, the new administration has proposed suspending the current program altogether for Fiscal Year 2011 (which begins on July 1, 2010).
At the June 9 public hearing, the Budget and Appropriations Committee will invite testimony from those who would be affected by even a temporary suspension of the program. We will hear from production-related businesses, individuals whose livelihood depend on a continuous stream of production in New Jersey, filmmakers, producers and of course the production companies that will not consider filming in NJ without an economic incentive!
Please make every effort to attend this hearing. At this critical juncture, your presence and support is essential to the survival of the program!
If you are unable to attend this important event, please consider sending letters in support of the program to the individuals, below:
Senator – Chairman of Budget and Appropriations Committee
The Hon. Paul A. Sarlo
207 Hackensack Street, 2nd Floor
Wood Ridge, NJ 07075
201-804-8118Senator – Senate Minority Leader
The Hon. Thomas H. Kean Jr.
425 North Street East
Westfield, NJ 07090
908-232-3673Senator – Senate Majority Leader
The Hon. Barbara Buono
2 Lincoln Highway, Suite 401
Edison, NJ 08820
732-205-1372Senator – Senate President
The Hon. Stephen M. Sweeney
Kingsway Commons
935 Kings Highway, Suite 400
Thorofare, NJ 08086-2238
856-251-9801Senator – Assistant Majority Leader
The Hon. M. Teresa Ruiz
166 Bloomfield Ave.
Newark, NJ 07104
973-484-1000Assemblyman – Assembly Speaker
The Hon. Sheila Oliver
15-33 Halsted St., Suite 202
East Orange, NJ 07018
973-395-1166Assemblyman – Assembly Majority Leader
The Hon. Joseph Cryan
985 Stuyvesant Ave.
Union, NJ 07083-6909
908-624-0880Assemblyman – Budget Chair
The Hon. Louis Greenwald
1103 Laurel Oak Rd., Suite 142
Vorhees, NJ 08043
856-435-1247Governor
The Hon. Chris Christie
State House
P.O. Box 001
Trenton, NJ 08625
609-292-6000Lt. Governor
The Hon. Kim Guadagno
State House
P.O. Box 001
Trenton, NJ 08625
609-292-6000Treasurer
Andrew Sidamon-Eristoff
State Treasurer
125 West State St., Box 002
Trenton, NJ 08625-0002
609-292-3078
