State Senator Wants To Reform State’s Film Tax Credits
A New Orleans State Senator has filed legislation aimed at reforming Louisiana's film tax credits.
Morrell is hoping his legislation will pass, and it will mean critical reforms for the many issues he says are plaguing the program including questions of fraud.
The film tax credits started in 2002, and since that time have meant Louisiana has seen a boost in the number of television, movie and musical recordings that have been made in state.
The state senator says the state values the program, but in a time when our state is facing a more than billion dollar budget crisis, it's time to reign in the program.
“In 2013, I created the Entertainment Industry Development Advisory Commission (EIDAC) to review and make recommendations regarding streamlining the film tax credits and alleviating concerns regarding fraudulent practices in the program. In light of the budget crisis and numerous tax credits and exemptions that currently exist on the books, this commission was further tasked with coming up with additional concepts for making the film tax credit more predictable and responsive.”
State Representative Kirk Talbot, co-author of many of the measures, added,
“What we need to do is root out the fraud and grow the industry with the people that are following the rules in a way that is fiscally responsible.”
“The film and movie production industry made possible by these credits has brought a new sense of innovation toLouisiana. The problems that have arisen are correctable and I will do everything in my power to ensure the future viability of this valuable program.”