Virginia · 2025 Regular Session · Bill
SB 251: Content manufacturing tax credit; removes sunset for the motion picture credit, redesignates credit.
In committee Official data
- Introduced
- In committee
- Passed one chamber
- Passed both chambers
- Enacted
Last official action: ·Record last updated:
Plain-language summary
SB 251 is a bill introduced in the Virginia Senate on January 9, 2024. According to its official title, it concerns: Content manufacturing tax credit; removes sunset for the motion picture credit, redesignates credit. Primary sponsor: Ghazala F. Hashmi. It lists 3 additional sponsors. Most recent recorded action (November 19, 2024): Left in Finance and Appropriations.
Generated automatically from the official title, sponsor list, and status record only. It does not characterize the bill’s purpose or effects. How summaries are written
Official summary
Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.
Content manufacturing tax credit. Removes the sunset for the motion picture tax credit, which currently is set to expire after taxable year 2026, and expands and redesignates the tax credit as the content manufacturing tax credit. The bill increases the total amount of credits that can be allocated to taxpayers to $46.5 million beginning in fiscal year 2024; however, should less than $100 million worth of certain new investments, as described by the bill, occur in Virginia by January 1, 2027, the cap will be reduced to $10 million per fiscal year. The bill also amends the definition of the "qualifying expenses" eligible for the content manufacturing tax credit to mean certain amounts spent in connection with the production of an eligible project filmed in the Commonwealth. The bill defines "eligible project" to be the production of a motion picture or an episodic television series.
Sponsors
Sponsors by party (alphabetical): Democratic 1 · Republican 2
| Name | Role | Party | Chamber | District |
|---|---|---|---|---|
| Ghazala F. Hashmi | Primary sponsor | Not applicable (committee) | — | — |
| Lamont Bagby | Co-sponsor | Democratic | Senate | 14 |
| Christie Craig | Co-sponsor | Republican | Senate | 19 |
| Todd Pillion | Co-sponsor | Republican | Senate | 6 |
“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.
Recent official actions
- Left in Finance and Appropriations
- Continued to 2025 in Finance and Appropriations (15-Y 0-N)
- Impact statement from TAX (SB251)
- Referred to Committee on Finance and Appropriations
- Prefiled and ordered printed; offered 01/10/24 24101615D