At-Risk Louisiana Production Tax Credit Restored By State Senate Committee With Lower Cap
deadline.comThe Revenue and Fiscal Affairs Committee of the Louisiana Senate has approved the state’s tax credit for film and television production in a version skinnier than before but at least still there.
The tax credit had been eliminated in two bills sent from the House that were amended Tuesday in committee to keep the incentive but reduce the annual cap to $125 million, from $150 million.
The amount set aside for residual claims was also set at $125 million, down from $180 million. The program, which starts at 25% but can rise as high as 40% in certain situations, has become increasingly popular with producers.
It would sunset in 2031. The bill must still be approved by the full Senate. It then heads back to the House for an up-or-down vote before reaching the desk of Gov.
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