Gov. John Bel Edwards on Tuesday (July 5) announced the state will begin the process of reviewing the state's generous film tax credit program, which legislators moved to limit amid last year's $1.4 billion budget deficit.This will be pulled in two different directions for several months before next year's legislature gets a hold of any action plan. On one hand, it fits with the governor's stated objective of stripping special privileges and regressivity out of the tax code in an effort to put the state back on sound fiscal footing. On the other hand, well, there are some special tax privileges here that people will be looking to defend. If this year's session is any indication, I'd wager on the latter pulling more weight by the time we're through.
Edwards said his administration is conducting the review through the Louisiana Economic Development agency, which "will include an independent examination of the program's economic impact in Louisiana." The governor is also pledging to take comments from the film industry on the value of the program.
Tuesday, July 05, 2016
Next year's project
How do we disentangle ourselves from Hollywood South?