An Illinois Senate committee got a taste of Hollywood when it considered an extension of the state’s tax credit for movie and television production. Senators learned that more favorable incentives in North Carolina cost Illinois a chance to host some of the production of Iron Man 3. The bill “would make Illinois a primary destination for film and TV production,” said the sponsor, State Sen. Patricia Van Pelt (D-Chicago).
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“Illinois has leveraged $163 million total tax credits since 2004 to bring in $1 billion in revenue to the state while creating 10,000 jobs.” The bill expands the tax credit to the on-screen labor and removes an exemption for industrial and corporate film production. Van Pelt had a famous guest to help make her case. “The one recurring theme for Illinois natives is the love to work back home, and to be able to stay,” said actor-director Billy Zane. “I believe this bill will initiate that. We are in a high tax bracket, and we’d love to pay it here.” Zane, a Chicago native, is perhaps best known as the snobby fiancée in Titanic.
S.B. 1816 has passed the Senate Executive Committee.