Proposals To Cap La. Film Tax Credit Program Move Forward
BATON ROUGE, La. (AP) — A trio of proposals to trim Louisiana's generous film tax credit program have won the backing of the House tax committee, as it looks for ways to help balance next year's budget.
The House Ways and Means Committee sent to the full House three different cap levels for the credits given to movie and TV productions: $150 million, $200 million and $226 million.
The state has spent as much as $250 million on the tax breaks in a year. Lawmakers grappling with a $1.6 billion shortfall say the program is siphoning needed dollars from colleges and health services.
Committee members rejected a more sweeping effort from Rep. Lance Harris, an Alexandria Republican, to phase out the program. That idea received strong opposition from people who work in the film industry.
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