Tax credits are ain New Jersey these days, given a damning audit and Gov. Phil Murphy’s desire to reform and rein them in — added to reports about how South Jersey powerbroker George Norcross and companies in Camden associated with him benefited from the credits.
But there’s one set of tax incentives the governor is four-square behind — those in the New Jersey Film and Digital Media Tax Credit Program (which he signed into law last year). There’s a tax credit of 30 percent of qualified film production expenses, with the potential for bonus credits. A film must spend at least 60 percent of its total budget through vendors authorized to do business in the state or spend more than $1 million in qualified expenses here to be eligible for the program.
The total in tax credits allocated in the first round of the program is. The green-lit projects include a biopic about Kathy DiFiore, who overcame domestic violence and homelessness to establish a shelter for women and pregnant teens. There’s also a story about star-crossed lovers in Atlantic City.
Somewhere, someone is feverishly writing a proposal for next year’s round of credits: Scene 1 — Star-crossed governor and South Jersey powerbroker…