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03 April 2017

Music Industry Applauds Passage of Bill Giving Tax Breaks to Recording Artists

Georgia Music Partners, a consortium of more than 200 music-related businesses including the Recording Industry Association of America (RIAA), cheered final passage of a bill they say will boost the state's music industry.

The Georgia Music Investment Act (House Bill 155) authorizes a 15% tax break for companies that spend $500,000 for live performance rehearsals, $250,000 for stand-alone scoring projects or $100,000 for recorded music performances in the Peach State.

House Bill 155 adds an additional 5% tax break if the production takes place in lesser developed counties that are designated as tier 1 or tier 2 by the state Department of Community Affairs.

State Senator Jeff Mullis (R - Chickamauga) says the tax break for music industry is the missing link for Georgia's music industry to flourish.

"I am now looking forward to watching this tax incentive create job opportunities while simultaneously rebuilding the music ecosystem in Georgia,” said Senator Mullis. “The Georgia Music Investment Act will lead the way in attracting investment in Georgia from around the world.”

Mullis sponsored the legislation in the Senate.

Georgia Music Partners President Tammy Hurt called the bill's passage a "game changer."

“It’s no secret that the roots of music in Georgia go back generations … we represent all genres, from classical and rock, to hip hop and rap, to jazz and bluegrass — Georgia has it all,” Hurt said. “It is extraordinarily gratifying to see music creators, educators, lawmakers and businesses — inside and outside the state — united behind the first-ever targeted incentive for music in Georgia. If utilized to its fullest extent, House Bill 155 will be a total game changer for our music industry.”

The Georgia Music Investment Act is currently awaiting Governor Deal's signature.