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Senate Commerce Committee Statement to Senate, No. 4392 (New Jersey, June 12, 2025)

Summary

Senate Commerce Committee Statement to Senate, No. 4392, State of New Jersey, dated June 12, 2025. The committee reports favorably Senate Bill No. 4392, which revises the Garden State Film and Digital Media Tax Credit Program. The program provides corporation business tax and gross income tax credits for expenses incurred for the production of certain films and digital media content. The bill adds an eligibility criterion for taxpayers whose productions include original music or original musical scores, which are to be produced and recorded domestically in the United States or any of its territories.

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“Senate Commerce Committee Statement to Senate, No. 4392 (New Jersey, June 12, 2025).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2025-06-12-scm-s4392-s1-79a82f3695/, SHA-256 71db420f8c60f951fe4de967da948c00d98a8d5ff165ef397b447a03e9e041a3.

Full text

     SENATE COMMERCE COMMITTEE

                    STATEMENT TO

                  SENATE, No. 4392

 STATE OF NEW JERSEY
                      DATED: JUNE 12, 2025

    The Senate Commerce Committee reports favorably Senate Bill
No. 4392.
    The bill revises the Garden State Film and Digital Media Tax
Credit Program, which provides corporation business tax and gross
income tax credits for expenses incurred for the production of
certain films and digital media content. Specifically, the bill revises
the tax credit program to include an additional criterion for certain
film and digital media content expenses to be considered eligible
for the tax credit.
    The bill adds a requirement to the tax credit program for
taxpayers that produce films and digital media content that include
original music or original musical scores. The bill requires all
original music and original musical scores developed for the
production of film or digital media content to be produced and
recorded domestically in the United States or any of its territories.


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