A cap on Georgia’s film and television production tax credit looks much different now in the latest version of a bill that’s passed from the House to the Senate.
An annual cap on tax credit transfers, the prospect of which gave the entertainment industry some agita, was actually lowered to 2.3% of the state budget (about $830 million at current levels) in the Senate version from 2.5% ($900 million) in the House.
However, the Senate Finance Committee inserted some major exemptions that make the cap almost meaningless. Mainly, productions shot at the biggest Georgia studios would not count towards the cap.
Big, according to the bill, means either $100 million in investment through 2023 to 2027, or a footprint of at least 1.5 million square feet of stage space.
Read more on deadline.com
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