Louisiana House Moves to End Film Tax Credits

The Louisiana House of Representatives has voted 87-12 to eliminate the state's $150 million tax incentive for film and TV production, a move that could significantly impact the local industry credited with bringing substantial economic benefits to the state. The tax incentive, initially introduced in 1992 and expanded in 2002, has been a key driver in establishing Louisiana as a 'Hollywood South' by offering up to 40% rebate on production costs. This decision is part of Governor Jeff Landry's broader tax reform plan aimed at reducing personal and corporate income taxes by eliminating various tax credits and exemptions. Film industry leaders, such as Jason Waggenspack of Film Louisiana, argue that the program has created thousands of high-paying jobs and attracted investments in studio infrastructure, warning against the potential outmigration of film-related jobs. The Shreveport City Council and other stakeholders have expressed strong support for maintaining the tax credit, emphasizing its role in economic growth and job creation. The bill, awaiting approval from the Senate and the Governor, could sunset the film incentive by June 30 if passed.