Louisiana Senate Committee Retains Film Tax Credit

A Louisiana Senate committee voted to retain the state's film tax incentive but reduced the annual cap from $150 million to $125 million, following a previous House decision to terminate the program by June 30, 2025. The decision came after significant public protest from film workers, who argued that eliminating the credit would threaten thousands of jobs. Senator Sam Jenkins emphasized the importance of these credits for job creation and economic growth in Louisiana, while the committee also approved amendments that would eliminate the refundability of tax credits. The cut from $180 million to $125 million was seen as a compromise to protect the industry, although concerns remain about the overall impact on local economies. Governor Jeff Landry's proposed tax overhaul aims to lower income tax rates but would also remove many existing tax credits, including incentives for the film industry. The outcome of the final legislation is still pending as discussions continue among lawmakers and industry representatives.