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2010-27336 Reso2010-27336 RESOLUTION NO. A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, SUPPORTING AND ENCOURAGING THE STATE LEGISLATURE AND THE GOVERNOR TO SUPPORT HOUSE BILL 697 SPONSORED BY STATE REP. PRECOURT, AND SENATE BILL 1430 SPONSORED BY SENATOR HARIDOPOLOS, WHICH LEGISLATION WOULD AMEND FLORIDA'S ENTERTAINMENT INDUSTRY FINANCIAL INCENTIVE PROGRAM TO PROVIDE CORPORATE INCOME AND SALES/USE TAX CREDITS TO QUALIFIED FILM AND ENTERTAINMENT ENTITIES. WHEREAS, the film and entertainment industry is known for creating stable, high-wage, high-tech jobs critical to economic development. To bring more of these opportunities to Floridians, we must invest in important financial incentives to encourage greater production within the state; and WHEREAS, for motion picture companies, the decision of where to shoot a particular movie is often equally based on the required aesthetics for the film and what jurisdiction offers the most favorable business incentives for locating the production in a particular jurisdiction. In some circumstances, these business incentives can be the defining factor as to whether a film is produced; and WHEREAS, via Chapter 288 of the Florida Statutes, Florida's Entertainment Industry Financial Incentive Program embodies a film incentive plan through which the Legislature appropriates funds annually and provides certain tax exemptions and/or tax rebates to qualifying film and entertainment entities. These incentives, however, have represented an inconsistent financial commitment to the film and entertainment industry, thus limiting the ability to lure lucrative film and television productions to the state, thereby placing Florida at a competitive disadvantage to other states; and WHEREAS, if Florida wants to compete with other states to attract top tier film and entertainment industries, then State law must be amended to allow for additional recurring incentives, with the State committing to tax credit programs with multi-year components to continue to attract more film and entertainment productions to the state; and WHEREAS, the attached House Bill 697 proposed by State Representative Stephen Precourt, and related Senate Bill 1430 proposed by State Senator Mike Haridopolos, provide in part for the creation of such tax credits, with qualified productions spending at least $100,000 being eligible for tax credits of at least 20 percent of expenditures, and allowing for an additional 5 percent tax credit for off-season and family-friendly productions; and WHEREAS, the Mayor and City Commission of the City of Miami Beach strongly support and encourage the Florida Legislature and Governor to endorse HB 697 and SB 1430 as their passage will enable Florida and its local governmental entities such as the City of Miami Beach to compete better with other jurisdictions in attracting lucrative film projects. NOW, THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the Mayor and City Commission of the City of Miami Beach support and encourage the State Legislature and the Governor to support House Bill 697 sponsored by State Representative Stephen Precourt and related Senate Bill 1430 sponsored by State Senator Mike Haridopolos, which legislation would amend Florida Statutes Chapter 288's Florida's Entertainment Industry Financial Incentive Program to provide corporate income and sales/use tax credits to qualified film and entertainment entities. PASSED and ADOPTED this 3 day of ~~2~rk~*Y2010. ATTEST: ~ MAT HERRERA O R MAYOR 1 (A.t (,~ APi'4;OrV€®AS TO ROBERT PARCHER FC)R6A & LASJCUAGE CITY CLERK ~e F^~ EXECUYlCM (Requested by Commissioner Jerry Libbin) F:\atto\OUJ\RES-ORD\LibbinFilmTaxCredit. doc m MIAMIBEACH OFFICE OF THE CITY ATTORNEY JOSE SMITH, CITY ATTORNEY COMMISSION MEMORANDUM TO: Honorable Mayor Matti Herrera Bower Members of the City Commission Jorge Gonzalez, City Manager FROM: Jose Smith, City Attor y ' DATE: February 3, 2010 SUBJECT: A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, SUPPORTING AND ENCOURAGING THE STATE LEGISLATURE AND THE GOVERNOR TO SUPPORT HOUSE BILL 697 SPONSORED BY STATE REP. PRECOURT, WHICH LEGISLATION WOULD AMEND FLORIDA'S ENTERTAINMENT INDUSTRY FINANCIAL INCENTIVE PROGRAM TO PROVIDE CORPORATE INCOME AND SALES/USE TAX CREDITS TO QUALIFIED FILM AND ENTERTAINMENT ENTITIES. Pursuant to the request of Commissioner Jerry Libbin, the attached Resolution is submitted for consideration by the City Commission regarding House Bill 697 sponsored by State Representative Stephen Precourt, which legislation seeks to amend Florida Statutes Chapter 288 Florida Entertainment Industry Financial Incentive Program by providing for certain corporate income and sales and use tax credits to qualified film and entertainment entities. F:\atto\OL IJ\CMEMO\LibbinTaxCrl ncentivePlan.doc Agenda Item I`_ We ore commuted ro providing excellem public servke and solery to all who hve, work, and ploy In our vlbri Date 2= ~~