Motion picture production tax credit; renamed as content manufacturing tax credit, removes sunset.

Motion picture production tax credit; renamed as content manufacturing tax credit; sunset. 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 eligible taxpayers from $6.5 million to $11.5 million beginning in fiscal year 2025 and allows unclaimed aggregate credit amounts to be carried over and added to the aggregate credit cap in the following 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, defined as the production of a motion picture or an episodic television series.