re: WSJ major opinion piece on film industry welfare--quotes Jindal

quote:

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I don't have a problem with the concept of a tax credit but one thing that makes the film industry "unique" and I believe needs to be fixed is that the credits should only apply to the revenue actually used in the state for filming and production purposes.

Unless it's been changed, the Louisiana credits apply to the entire production, even the portions where the work was done out of state.

Now, the problem is that other states offer the same so if Louisiana plays hardball, they could potentially lose everything.

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None of that is correct.

Louisiana film tax credits are cash redeemable credits that are based on the expenses in Louisiana of the production which does include millionaire actors that work in the state during the production and it does pay 30% of their salary.

It is not a typical economic development incentive because it does not rely on the income of the recipient to pay it. It is funded by tax payers and is unlimited and has no expiration.