Georgia May 9, 2005 House Bill # 539, a production tax credit for the State of Georgia, was signed into law at 11:30 AM today by Governor Sonny Perdue in a ceremony held at Turner Studios in Atlanta. Announcements were made for a number of projects already headed to Georgia as a direct result of this legislation passing.

This incentive provides a base tax credit of 9% on a production's 'Georgia spend', including non-resident labor, with a salary cap of $500,000 on any single salary, plus a bonus 3% for amounts spent on Georgia labor*, plus a bonus 2% for serial television projects whose annual production exceeds $20m, plus a bonus 3% for any production expenses incurred in a low income county within the State. The bill can be viewed in detail at the Georgia General Assembly website. This new credit also includes commercial production and video gaming, and is in addition to the tax incentive already on the books in Georiga, which provides for a point of sale exemption on State sales and use tax.

HB # 539 had previously passed the Georgia House Ways and Means Committee on March 4th, 2005, the State House of Representatives on March 11, the Senate Committee on Economic Development on March 16th and the Georgia State Senate on Thursday, March 24th.

For more information on producing your next project in Georgia, contact Riverwood Studios Inc. or the Georgia Film and Video office. Georgia offers diverse topography, a strong production base of crew, equipment, facilities, great weather, and easy access via Atlanta's Hartsfield- Jackson Intl. Airport. Most notably, Delta Airlines and Air Tran offer more than 20 daily flights from LAX to Atlanta, and Delta even provides non- stop service from Burbank to Atlanta.

In addition, Georgia uniquely offers Hollywood-caliber post production facilities through Crawford Communications, Turner Post, Lab 601, and others, qualifying a significant, additional portion of each production's budget for the tax credit. Also, travel and insurance costs, if booked through Georgia agencies, or directly on Delta Airlines, qualify for the credit.

HB # 539 is retro-active to include production expenses incurred after January 1st, 2005. Call Riverwood Studios today to ensure that your production has a home in Georgia.

About Riverwood Studios Inc.

Riverwood is Georgia's only independent design-built motion picture studio, located on 120 acres, 25 miles south of Atlanta's airport. It has 4 soundstages (offering minimum STC ratings and NRC's of 55), construction mill, production offices, hair/makeup facilities, a 5-acre shooting lake, swamp, forest and field locations on site with low ambient sound, and much more. Peachtree City, Griffin**, and Newnan, GA offer close proximity and a wide range of hotels, restaurants, and condominiums.