§ 44-31.2-1. Findings and purpose. (a) The general assembly finds and declares that the state of Rhode Island with its natural beauty, historical and architectural heritage of the state, its majestic natural resources including Narragansett Bay and the independence and diversity of its citizens and neighborhoods would provide a variety of excellent settings from which the motion picture industry might choose a location for filming a motion picture or television program, and together with those natural settings, the availability of labor, materials, climate, and hospitality of its people have been instrumental in the filming of several successful motion pictures.

(b) It is recognized that the motion picture industry brings with it a much needed infusion of capital into areas of the state which may be economically depressed and the multiplier effect of the infusion of capital resulting from the filming of a motion picture or television program serves to stimulate economic activity beyond that immediately apparent on the film set.

(c) Since a significant portion of the cost of a motion picture or television production will not be eligible for existing tax incentives due to the fact that portions of the production are carried out in another state, it is the purpose of this chapter to provide a financial incentive to the film industry in order that the state might compete with other states for filming locations.

(d) The primary objective of this chapter is to encourage development in Rhode Island of a strong capital base for motion picture film, videotape, and television program productions, in order to achieve a more independent, self-supporting industry. This objective is divided into immediate and long-term objectives as follows:

(1) Immediate objectives are to:

(i) Attract private investment for the production of motion pictures, videotape productions, and television programs which contain substantial Rhode Island content as defined herein.

(ii) Develop a tax infrastructure which encourages private investment. This infrastructure will provide for state participation in the form of tax credits to encourage investment in state- certified productions.

(iii) Develop a tax infrastructure utilizing tax credits which encourage investments in multiple state-certified production projects.

(2) Long-term objectives are to:

(i) Encourage increased employment opportunities within this sector and increased competition with other states in fully developing economic development options within the film and video industry.

(ii) Encourage new education curricula in order to provide a labor force trained in all aspects of film production.

History of Section. (P.L. 2005, ch. 95, § 1; P.L. 2005, ch. 118, § 1.)