REVENUE-TECH

This bill amends the Live Theater Production Tax Credit Act in Illinois to expand financial incentives for live stage productions that meet specific criteria. It defines eligible projects as pre-Broadway shows, long-running productions with over $100,000 in local spending, and commercial Broadway touring shows, provided they perform in qualified facilities with at least 1,200 seats. The legislation allows producers to receive tax credits based on Illinois labor expenditures and production spending, with a total annual credit cap of $4 million for fiscal year 2023. These funds are intended to support theater companies by reimbursing a portion of the costs associated with hiring Illinois-based workers and creating scenic materials.