The governor is content to maintain the current production credit, rejecting the bump to 30 percent t
hat would cost an additional $20 million in a time of budget shortfalls. His administration thus supports the 25 percent credit of HB142 that got out of the House Ways and Means Committee on Thursday.
Meanwhile, the film industry has put its spotlight on HB862 by state Rep. Rick Gallot, D-Ruston, that raises the credit to 30 percent on an investment of at least $300,000. State Sen. Robert Adley's SB245 similarly calls for the 30 percent break. Gallot's bill is hung up in committee, while Adley's has gotten past that hurdle and is headed to the Senate floor. Both deserve full hearings.
We've expressed our reluctance to pursue a so-called tax credit arms race but have come around to the idea that the elimination of the infrastructure credit makes the production boost more palatable. In the past four years, films have provided an economic boost to northwest Louisiana. In 2008 there were 23 productions in Shreveport-Bossier City. By March of this year, there had only been two.
The creative energy of films adds to our industrial diversity and has potential for spinning off into parallel realms, from video games to music. Already LSUS has embarked on an animation curriculum.
It's a creative industry we'd like to nurture into taking deeper root.
For further details visit as : www.shreveporttimes.com/article/20090601/OPINION03/906010303/1058
hat would cost an additional $20 million in a time of budget shortfalls. His administration thus supports the 25 percent credit of HB142 that got out of the House Ways and Means Committee on Thursday.Meanwhile, the film industry has put its spotlight on HB862 by state Rep. Rick Gallot, D-Ruston, that raises the credit to 30 percent on an investment of at least $300,000. State Sen. Robert Adley's SB245 similarly calls for the 30 percent break. Gallot's bill is hung up in committee, while Adley's has gotten past that hurdle and is headed to the Senate floor. Both deserve full hearings.
We've expressed our reluctance to pursue a so-called tax credit arms race but have come around to the idea that the elimination of the infrastructure credit makes the production boost more palatable. In the past four years, films have provided an economic boost to northwest Louisiana. In 2008 there were 23 productions in Shreveport-Bossier City. By March of this year, there had only been two.
The creative energy of films adds to our industrial diversity and has potential for spinning off into parallel realms, from video games to music. Already LSUS has embarked on an animation curriculum.
It's a creative industry we'd like to nurture into taking deeper root.
For further details visit as : www.shreveporttimes.com/article/20090601/OPINION03/906010303/1058
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