To amend section 5747.98 and to enact sections 122.851 and 5747.67 of the Revised Code to authorize a refundable income tax credit for individual investors in a sound recording production company equal to a portion of the company's costs for a recording production or recording infrastructure project in Ohio.
Similar in nature to the Ohio Film Tax credit, this bill proposes authorizing a tax credit for a recording production or recording infrastructure project in Ohio. The legislation would require a company to apply to the Development Services Agency for a credit, which the Agency would award on a first-come, first-served basis, up to $3 million per fiscal year. The Bill proposes the credits to sunset at the end of 2019.
Review the current status of OhioSounds, House Bill 269
Over the past decade, CPAC has conducted several studies that highlight the economic and social impact of the entire arts and culture sector focused on its service area of greater Cleveland. More recently, the organization developed a methodology for demonstrating impact on a discipline level; for the first time, our community has an understanding of the specific benefit that discrete disciplines of the arts and culture sector have for the residents of our region. In 2011, CPAC, in collaboration with Cleveland State University (CSU’s) Center for Economic Development, released the first report in this series focused on Cleveland’s music industry study called Remix Cleveland, which quantifies the viability of music as an economic driver for a number of key reasons.
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