AN ACT ESTABLISHING AN ANNUAL AGGREGATE CAP ON THE FILM INDUSTRY TAX CREDIT PROGRAMS.

HB 5981 establishes a $50 million annual cap on the total tax credits available across three film industry programs: film production, entertainment infrastructure projects, and digital animation. This directly affects film producers and studios that apply for these tax credits by limiting the total state funding available each year. The bill modifies existing law to ensure the combined spending on all three credit programs does not exceed $50 million annually, creating a clear spending limit without changing the eligibility rules for individual applicants.