The state Legislature is expected to vote on a revised version of the film and television tax credits bill on June 7.
The bill is being tweaked following a conditional veto Wednesday night by Gov. Phil Murphy that bounced it back to the Senate. The move was designed to let bill proponents insert language covering TV reality shows, which had been excluded.
Senate Bill 122, the Garden State Film and Digital Media Jobs Act, would restore tax-credit incentives for New Jersey-based productions. Both the General Assembly and State Senate are expected to pass the revised edition, according to the office of Senator Loretta Weinberg, D-37th District, one of backers of the film tax credit.
As urged by Murphy, the language being inserted into S122 would extend tax credits to reality shows only if their producers commit to owning or leasing a production facility within an Urban Enterprise Zone for at least two years. UEZs, established in the 1980s, are meant to draw in business, jobs and investment to economically depressed urban centers.
“I believe that reality television shows that make this commitment are creating the type of economic benefit to the state that warrants eligibility for the same types of incentives available to other types of productions,” Murphy said in announcing his conditional veto.
Lawmakers are aiming to have the law go into effect on July 1, which is the first day of fiscal 2019.
S122 would set aside $75 million for film and television productions and $10 million for digital media annually from 2019 to 2023.
There are two tiers of tax credits in the bill: a basic 30 percent, and 35 percent for companies that film in Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Mercer or Salem Counties.