Louisiana Moves to Eliminate $150 Million Film Tax Credit
The Louisiana House of Representatives voted Tuesday to eliminate the state’s $150 million tax incentive for film and TV production, as part of a broad package of measures to reduce the state income tax.
Louisiana was the first state to adopt a tax incentive for film production, in 1992, though the program did not start to generate considerable filming until it was amended a decade later. The program offers a 25% rebate on production costs, which can reach as high as 40% in some cases.
The House voted 87-12 to approve the bill. If approved by the Senate and the governor, the measure would sunset the film incentive on June 30.
Gov. Jeff Landry, a Republican who took office in January, called a special legislative session late last month to reduce personal and corporate income taxes and eliminate a wide range of exemptions and credits, including the film incentive.
“Our proposal starts the process...
Louisiana was the first state to adopt a tax incentive for film production, in 1992, though the program did not start to generate considerable filming until it was amended a decade later. The program offers a 25% rebate on production costs, which can reach as high as 40% in some cases.
The House voted 87-12 to approve the bill. If approved by the Senate and the governor, the measure would sunset the film incentive on June 30.
Gov. Jeff Landry, a Republican who took office in January, called a special legislative session late last month to reduce personal and corporate income taxes and eliminate a wide range of exemptions and credits, including the film incentive.
“Our proposal starts the process...
- 12/11/2024
- di Gene Maddaus
- Variety - Film News
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