2006 Utah Code - 63-38f-1804 — Financial incentives for motion picture productions.

     63-38f-1804.   Financial incentives for motion picture productions.
     (1) A motion picture company that has a state-approved production under this section may receive a financial incentive from the fund as provided in this section.
     (2) (a) The administrator has authority to determine the structure, amount, and nature of the incentive given to a motion picture company, subject to the limitations and considerations set out in Subsections (3) and (4).
     (b) A financial incentive shall be paid to a motion picture company from the fund only after the administrator has determined with advice from the board that the motion picture company has satisfied the conditions upon which the incentive is to be given.
     (3) (a) In each fiscal year, the money in the fund shall be used for incentives to motion picture companies for state-approved productions that are either television series, made-for-television movies, or motion pictures, which may include both feature films and independent films.
     (b) An incentive awarded under Subsection (3)(a) for a motion picture production may not exceed $500,000 per production.
     (4) (a) The administrator shall enter into agreements with motion picture companies that represent postperformance incentive grants that take into consideration:
     (i) the fact that financing has been obtained and is in place for the production;
     (ii) distribution is in place, except that the administrator may make allowances for an independent filmmaker who plans to shop the production on a film festival circuit;
     (iii) the economic impact of the production on the state; and
     (iv) the production represents new incremental economic activity in the state as opposed to existing economic activity.
     (b) The administrator may also consider giving preference to a production that stimulates economic activity in rural areas of the state or that has Utah content, such as recognizing that the production was made in the state or uses Utah as Utah in the production.

Enacted by Chapter 210, 2005 General Session