Did the motion picture production tax credit change?

Yes. The front-end and back-end caps for the motion picture production tax credit have been reduced from $150 million and $180 million to $125 million for applications received on or after July 1, 2025 and credits claimed on or after July 1, 2025, respectively. In addition, the provision authorizing the rollover of unclaimed credits to be made available for claims in the subsequent fiscal year has been repealed. No more than $125 million may be reserved or claimed in any fiscal year beginning July 1, 2025.