On April 30th, the House and Senate unanimously voted passage of the Entertainment Industry Incentive Bill into legislation, which will instantly put Florida's film industry back on the map.  After recent months of debate, the Senate surprised many with the unanimous vote.  Numerous pleading from the bill's co-sponsors, Rep. Kevin Ambler, Rep. Steven Precourt, and Rep. Jennifer Carroll, to the film community in reaching out to the Senate about the importance of this bill has obviously paid off. 

"This may be the single most important bill we passed this Session to bring high wage jobs to Florida almost immediately," said Rep. Ambler."

In attendance was Digital Domain Chairman John Textor, who is building a brand new studio in Port St. Lucie, FL.  He laid out what the passing of this bill means to Floridians...

"This bill will be a major catalyst for many Floridians in the industry to return home in order to pursue their career after having been forced to move away to states like California and New York.  This exodus has gone unabated because new productions in Florida came to a standstill when the state fell behind in offering competitive incentives."

Textor also revealed that Digital Domain has already begun to hire prime talent for the Port St. Lucie site.  Two-award winning directors, who are Florida natives, are anxious to come back home to take part in upcoming Florida productions.

Below are the broad numbers for the bill.  What remains to be seen is whether this will truly start bringing in the big fish of Hollywood and how will the bill help all levels of independent filmmakers that want to do productions in Florida.  A question on the mathematics of the bill is a common one among indie filmmakers throughout the state.

The film incentive allocates tax credits over the next 5 years for qualified productions and expenditures as follows: $53.5 million for FY2010-11, $74.5 million for FY 2011-12, $38 million per year for FY 2012-13, 2013-14 and 2014-15.  With a total incentive of up to 30% (including bonuses).  The impacts on the state budget are also delayed until FY 2011-12.

For more info about the journey of this highly debated bill, along with other details from Rep. Ambler on how it will affect the overall state economy, read the related articles section below the picture taken from yesterday's Session.