Louisiana House Votes to Eliminate $150 Million Film Tax Credit Program [Yahoo! Finance]
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as part of a push to eliminate a wide swath of such incentives in favor of lower corporate income tax rates. Legislators voted 87-12 in favor of sunsetting the tax credit program by June 30 of next year. The proposal now heads to the state senate as part of a special session called by Gov. Jeff Landry. We are losing population, and we have the highest corporate tax rate in the South. We're uncompetitive. We're not attracting business here. And over the years we tried to band-aid that and remedy it with a lot of these credits,” Republican State Rep. Julie Emerson told The Advocate. Louisiana was the first state to adopt a tax incentive for film production back in 1992, with an amended version offering a 25-40% rebate on in-state production spending that passed in 2002 leading to a boom for the state's entertainment industry. Recent films that have shot in the state include the Netflix movies “Hit Man” starring Glen Powell and “Rebel Ridge” starring Aaron Pierre. In the years si
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