Georgia Lawmakers Move to Limit Nation’s Largest Film Incentive
variety.comGene Maddaus Senior Media Writer After studying the issue for the last eight months, Georgia lawmakers unveiled a proposal on Wednesday to limit the state’s lucrative film and TV tax incentive.
Georgia has the largest production tax credit in the country, with $1.24 billion in credits certified last year. Over the last decade, soundstages have sprouted up around Atlanta and hundreds of productions have come to the state, including “May December,” “Black Panther,” “Stranger Things,” and “The Walking Dead.” Unlike in most other states, the Georgia credit is not capped.
As it surpassed $1 billion a year, some lawmakers have worried that it poses a risk to state finances and makes it harder to cut income taxes across the board. “What we’ve seen from legislative leaders is a clear desire to rein in the overall cost of this program,” said Danny Kanso, a fiscal analyst at the Georgia Budget and Policy Institute.
Four officials, including the lieutenant governor and the House speaker, unveiled legislation on Wednesday that would limit the amount of credits that can be transferred in a year.
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