Georgia Bill Capping Annual Film & TV Production Tax Credits Sails Through House
deadline.comThe Georgia House has just approved HB1180, legislation closely followed by the entertainment industry as it alters elements of the transferable tax credit that has drawn film and television production to the Peach State for the last 15 years — capping the amount that can be transferred in any one year.
The change would impact any company or producer that isn’t resident in Georgia. The bill now heads to the Senate, then to the governor’s desk and prevailing wisdom sees it sailing through, as it just did (131-34), albeit with some opposition on the House floor. “There’s a saying, ‘If it’s not broke, don’t try to fix it.’ We have grown to the third in the word [in production] because we do not have a cap.
Other states are looking at removing their caps. They are looking at what drives the industry, and they are trying to mirror that,” said Rep.
Long Tran. “I worry that if we are not gentle and nuanced in how we work with the tax credit that the people we hurt are not the Bob Igers or the David Zaslavs of the world.
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