- (a) This article, commencing with Section 41-7A-40, is repealed effective December 31, 2028, unless extended by an act of the Legislature. Prior to the repeal of the incentive, the Department of Commerce shall report to the Legislature beginning in 2023 and annually thereafter, regarding the entertainment industry incentives, in accordance with Section 40-1-50.
- (b) The repealing of the incentives in subsection (a) shall only affect the availability of the tax credits after December 31, 2028, and shall not cause a reduction or suspension of any credits awarded on or prior to December 31, 2028.
(c) On an annual basis, the department shall furnish the Department of Commerce with a list of each qualified production company that has claimed the incentive under this article.
- (1) The Department of Commerce shall use the information received under this subsection solely for the purposes of economic development planning and program evaluation.
- (2) To ensure taxpayer confidentiality, all information shared under this section shall remain subject to the confidentiality provisions of Section 40-2A-10. The Department of Commerce shall implement safeguards to ensure that taxpayer information is not disclosed to unauthorized persons or entities.
(Act 2023-546, §§ 9, 11; Act 2026-540, §1.)