From our friends at Georgia Music Partners:
Georgia Music Partners (GMP) is very pleased to announce that the Georgia Music Investment Act – HB-155 – passed the Georgia General Assembly today. This is a significant milestone: the first-ever targeted incentive specifically for music in Georgia. GMP and the Recording Academy Atlanta Chapter have been advocating on behalf of Georgia’s diverse music industry for over seven years. We are extremely proud of uniting the industry around this important legislation. HB-155 now goes to Governor Nathan Deal’s desk for his signature.
Our sincere thanks to Representative Amy Carter and Senator Jeff Mullis for their leadership and their hard work to get this bill passed. We owe you both a debt of gratitude. We also thank Lt. Governor Casey Cagle, Speaker David Ralston, Rep. Bert Reeves, and both chambers for their support. To our Government Relations team at the Hudson Group – Brian Hudson and Tyler Adams, Legal Counsel – Steve Weizenecker at Barnes and Thornburg, and GMP Legislative Affairs Chair – Mala Sharma – you are a dream team! To Michele Caplinger, Shani Sammons, all GMP sponsors, advisors, board members, committee chairs, members and the thousands of supporters who called and wrote your legislators, THANK YOU for your dedication and hard work! This accomplishment would not have been possible without you.
HB-155 specifics: Beginning in 2018, a 15% refundable tax incentive will be offered for projects recorded or scored in Georgia and for tours that rehearse and start in the state. To qualify, a production company must meet a minimum threshold of $500,000 for live performance rehearsals, $250,000 for stand-alone scoring projects (aggregate in a year) and $100,000 (aggregate in a year) for recorded music performances. In addition, if the production takes place in lesser developed Tier 1 and Tier 2 counties, it can qualify for the additional 5 percent credit. Read the full bill here.
HB-155 has the potential to make a significant impact in our community, our state, and our industry. Should HB-155 be signed into law by Governor Deal, this new opportunity will need to be promoted, and a development plan created to attract business outside the state and to create jobs at home. It will be up to us, Georgia music professionals and our partners in #GeorgiaMusic, to make it a success.
If you haven’t already, please consider making a contribution to Georgia Music Partners. GMP is the all-volunteer advocacy coalition responsible for the research, development, and work behind this achievement. Every dollar raised through donations, merchandise sales, and membership dues goes towards helping grow, defend and support our music community and grow our industry: Contribute here.
CONGRATULATIONS TO ALL! ONWARD AND UPWARD!