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 top filming destinations. That $900 million, which is about what the state pays out now each year, is more than any other film rebate in the country, and more than double California’s current $440 million in tax credits.
The proposed cap, which is backed by Georgia’s Senate Finance Committee, would also prohibit film companies from selling their tax credits – a common practice under the state’s existing rules among companies that aren’t based in Georgia.
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. See more at Deadline.
