Louisiana House Votes to End $150 Million Film Tax Credit
The decision to eliminate the incentive follows a broader tax reform effort aimed at reducing personal and corporate income taxes.
- The Louisiana House passed the bill with an 87-12 vote, moving it to the Senate for further approval.
- The tax reform package includes eliminating several tax credits, aiming to implement a flat 3% personal income tax rate.
- Governor Jeff Landry's proposal seeks to make Louisiana more competitive by reducing tax burdens and cutting incentives.
- Film industry advocates argue that the tax credit has significantly boosted local economies and created thousands of jobs.
- If approved, the film tax credit will end by June 30, 2025, affecting future production decisions in the state.