The new Film Incentives Law was signed on March 4, 2011

The New Film Incentives Law was signed on March 4, 2011. In addition to the 40% tax credit based on payments to PR Residents the new law will include an additional 20% tax credit to Non-Resident Talent. The qualifying media projects will be expanded to include: feature films; short films; documentaries; television projects; music videos; national and international commercials; video games; recorded live performances and original sound track recordings and dubbing for any of the above. Minimum spend requirements will be reduced to $100,000 per project ($50,000 for short films); principal photography requirements will be eliminated.