A bill pending in the Georgia legislature would put a cap of $900 million on the amount of tax incentives the state gives to filmmakers each year, which has turned Georgia into one of the nation’s …
legislature would put a cap of $900 million on the amount of tax incentives the state gives to filmmakers each year, which has turned Georgia into one of the nation’s top filming destinations.
California has a hybrid mix of transferability: Tax credits given to independent films are transferable – meaning they can be sold to third parties – but tax credits for relocating TV series and non-independent feature films are non-transferable.Proponents of the proposed changes in Georgia say that an overhaul of the state’s film subsidies is long overdue.
“Why should Georgia be on the hook for up to 30% of the expenses for film & TV productions?” tweeted Danny Kanso, senior tax policy analyst for the Georgia Budget and Policy Institute and a supporter of the overhaul. “Permanently subsidizing a huge portion of costs for an entire industry is not justifiable. This is made worse by the current lack of caps, disclosures, or basic safeguards.
Georgia state Senator Nan Orrock, a Democrat, urged caution. “I would feel very cautious about whacking this tax credit,” she told the Atlanta Journal-Constitution. Any changes to Georgia’s film incentives will have to be approved by its Senate and the House and signed into law by the governor.
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