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| Fi13. Film production companies with existing credit agreements that were approved have found that they have underestimated their Michigan budgets. What is the process to address this situation,and what procedure should be followed? |
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Production companies should submit a simple addendum in a letter format to the Michigan Film Office that references the original agreement (i.e.,by date and unique project number) and contains a) a statement that the addendum is a modification to the expenditures listed in the existing agreement and the reasons why the original budget will be exceeded,b) a revised budget (utilizing the same categories as those that appear in the agreement),c) revised projections for Michigan production expenditures and total production expenditures,d) a revised estimated credit amount identifying the increase in credit amount,and e) new signatures by authorized representatives of the production company. Approval of the request is not automatic,and the State will respond with a letter authorizing additional film production credit amounts if approved. The approval request must be made in advance of the additional expenditures being made (i.e. before the initial approved budget has been fully expended) to qualify for additional credit. Expenditures made prior to written approval of additional credit by the state will not qualify for credit.
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