Proposed limit on Georgia film tax credit could become meaningless if studios are protected

Some Georgia lawmakers are having second thoughts about limiting the value of the state’s lucrative film tax credit

Some Georgia lawmakers are having second thoughts about limiting the value of the state's lucrative film tax credit. The Senate Finance Committee voted narrowly on Wednesday to rewrite parts of House Bill 1180, which is aimed at creating limits. The bill would still require moviemakers to spend more in the state to max out the film tax credit.

State-sponsored evaluations show the credit’s cost outweighs its economic benefit. A study last year by Georgia State University suggested the state saw a return of less than 20 cents on the dollar. Most production companies don’t have enough state income tax liability to use all the credits and they can’t be redeemed for cash. Production companies can sell the credits to other people who owe taxes in Georgia, usually at a slight discount.

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