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Georgia Senate Drops Proposal to Cap Film Credit at $900 Million
Gene Maddaus Senior Media WriterThe Georgia state Senate has dropped a proposal to cap the state’s film and TV tax credit, after facing industry pushback and opposition from the state House of Representatives.The Senate Finance Committee passed a measure on Monday that would have capped the credit at $900 million per year. The bill would also have made the credit non-transferable, meaning that studios could not sell their credits to other taxpayers.The bill was initially scheduled for a vote on the Senate floor on Wednesday, but was withdrawn.