Georgia Bill Tinkering With Production Tax Credits Dies On Last Day Of Legislative Session
29.03.2024 - 05:41
/ deadline.com
Georgia’s legislative session is a wrap, burying with it a tortured bill on state film and television production tax credits — to the relief of Hollywood, indie producers and Georgia sound stage owners.
“Georgia is open for business and continues as a premier destination for film and television production. After much study and debate, the General Assembly has kept in place the tax credit policy that has served the state so well, working exactly as intended,” said Kelsey Moore, Executive Director of the Georgia Screen Entertainment Coalition.
“We appreciate the leadership that Gov. Brian Kemp, Lt. Gov. Burt Jones, House Speaker Jon Burns and legislators on both sides of the aisle have shown on this issue. Our state leadership has sent a clear statement, literally across the world, that Georgia strongly supports the film industry,” she said in a statement overnight.
That the bill failed isn’t a huge surprise given Georgia’s thriving production industry. What was unexpected is that the bill was revived at the last minute and came down to the wire. HB 1180 was cooked in the Senate earlier this week after a revision thoroughly “pissed off people who liked a cap, and who didn’t like a cap,” said one person following the debate. It was “a very unlikeable bill for both sides of the issue.”
It reappeared as a ‘Frankenbill’ (combined with low income housing tax credits for the disabled, and the creation of a Special Commission In Date Center Energy Planning) in a last ditch attempt that petered out in the Senate. This last version was most similar to the first, which caused Hollywood much angst by putting a limit on annual tax credit transfers — to 2.5% of the state budget – or about $900 million at current levels. In the bill
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