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

quote:

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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.

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He's right. And there's no cap. If James Cameron decides to come film all four avatar sequels in LA at the same time and spends 1.5 billion on production, LA would issue them redeemable credits of $450 million, roughly. Plus all the other movies being filmed.

With la expanding its production capacity, it's not too far fetched to say that in a couple of years, we could be cutting checks over half a billion dollars.