Louisiana Moves to Eliminate $150 Million Film Tax Credit

variety.com:

Gene Maddaus Senior Media Writer 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 of eliminating special treatment for the chosen few, while restoring equity to the others who now carry the heavy tax burden,” the governor told the Legislature upon opening the session last week.