Lawmakers approve Louisiana film incentive extension as Texas pours money into its own program
Louisiana lawmakers have voted to extend the program that subsidizes film and TV production in the state. Louisiana lawmakers have approved a bill that would extend the program that subsidizes film and TV production in the state until July 1, 2031. The program currently is scheduled to sunset in 2025, but the House Bill 562 moves that date back to July 1. The Legislature holds fiscal sessions in odd-numbered years, and the program grants up to $150 million in tax credits per fiscal year. Texas legislators recently approved a $200 million budget for their program, compared to the $45 million previously allocated.
Published : 11 months ago by David Jacobs in Business
Louisiana lawmakers have voted to extend the program that subsidizes film and TV production in the state.
The program currently is scheduled to sunset in 2025 but House Bill 562 moves that date back to July 1, 2031.
Extending the program this year, rather than waiting until the next fiscal-focused session in 2025, was a priority for supporters so that industry leaders could plan knowing the incentives would be in place.
“We would have been looking at [extending] it right when it was coming to a close,” says Katie Pryor, who directs the Baton Rouge Film Commission. “You want to make sure the program will be around and strong and you’re going into a solid market.”
While the original bill would have pushed the sunset back to 2035, Pryor says the amended version provides enough runway. The Legislature holds fiscal sessions in odd-numbered years.
Louisiana’s program grants up to $150 million in tax credits per fiscal year. Texas legislators recently approved a $200 million budget for their program, compared to the $45 million previously allocated.
“We’re strengthening our industry and showing support for our industry right as our neighboring state is doing the same,” Pryor says. “It’s a competitive global market, and we need to pay attention to what other states and regions and countries are doing.”
Pryor recently returned from the Cannes Film Festival, where she promoted the state and local film sector and participated in a panel on film tourism. Some film producers don’t realize Louisiana has far more settings to offer than swamps, she says.
“You get some fantastic questions, like, ‘Do I have to do alligator safety training?’” She assures them they do not.
Topics: Texas, Louisiana