Film Tax Breaks Signed into Law in Illinois
Chicago, ILL – New tax breaks for the film industry are now law in Illinois. Governor Rod Blagojevich signed the measure Monday, saying it could help lure back productions that have gone to places where it's cheaper to film.
The movie 'Chicago,' for example, was filmed in Canada. The Illinois Film Office says the state has lost about $100 million a year in potential production and labor costs over the last several years.
The law takes effect January First. It offers companies a 25% tax credit on the first $25,000 in wages paid to each Illinois resident on a production. The productions have to be at least 30 minutes long and employ at least $100,000 in state labor.