Georgia legislative leaders’ pledge to rein in some of the state’s generous tax breaks to industry is starting with the most expensive on the books: the film tax credit.
A bill introduced in the Georgia House of Representatives earlier this month would require film production companies to meet at least four of nine criteria to qualify for an additional 10% tax credit on top of the 20% base credit the General Assembly enacted in 2008. House Bill 1180 also would raise the minimum companies would have to spend to earn the credit, and put new limits on the selling of credits.
“Our film tax credit has been very, very successful for Georgia,” House Speaker Jon Burns, R-Newington, said Feb. 7 during a news conference unveiling the bill. “We want to make sure that we streamline our tax credit so we continue to get the absolute best return on that investment.”
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