Senate committee OKs film incentive extension
A Louisiana Senate committee advanced without objection Thursday a proposal to extend the life of the state’s film subsidy program, which may be a tough sell for lawmakers looking to trim or eliminate tax incentives.
The motion picture program provides state-certified film and TV productions with up to a 40% tax credit on eligible in-state expenditures. The program can issue up to $150 million in credits per fiscal year, and recipients can claim up to $180 million per fiscal year.
Senate Bill 173 by Sen. Sharon Hewitt, R-Slidell, calls for extending the program’s scheduled sunset from 2025 to 2031. The longer runway would make the state more attractive to film and TV producers, who often plan projects several years in advance, and to potential investors in the state’s film industry infrastructure, supporters said.
Senate committee calls for extending life of Louisiana film incentive program
msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Bill would expand Louisiana film tax credit program
businessreport.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businessreport.com Daily Mail and Mail on Sunday newspapers.