Springfield Ill. - Recently, Governor Quinn signed Senate Bill 398 into law which extends the Film Production Services Tax Credit of 2008. The tax credit encourages film production in the state.

"The passage of this legislation will foster an environment friendly to the film industry," Martinez said. "For years, film productions have created income and jobs in Illinois, and this new law provides an opportunity for the state to continue to enjoy these benefits."

In 2010, the film industry spent an estimated $155 million in Illinois. By comparison, in 2003 when there was not a film tax credit, the industry only spent $25 million here. The credit is equal to 30% of money the film company spends on resources in Illinois, such as equipment, rental space, materials and manpower.

"Television producers were concerned with the stability of the tax incentives," Martinez said. "We should encourage film productions to come and stay in Illinois. We also need to continue to introduce initiatives making Illinois a mainstay for businesses."

Public Act 97-0007 establishes a ten-year sunset rather then the five years established by previous legislation. The credit could then be subsequently extended in five-year intervals after the initial ten years.