New measure would strip Georgia film tax credit (11alive.com)
ATLANTA — A bill introduced in the legislature could bring down the film industry in Georgia. The measure calls for an end to the state’s generous tax credit for filmmakers.
Filmmakers didn’t aggressively set up shop in Georgia until after the state passed a law that created a generous tax credit to draw them here. That was in 2008.
Three years ago, the film industry was at the capitol to pat itself on the back for taking advantage of the tax credit and making Georgia its top destination.
“Today to stand here and say Georgia is number one in the world just blows my mind,” exulted state Rep. Ron Stephens (R-Savannah) during the event at the capitol in January 2018.
But the cost to taxpayers is implicitly criticized in a House bill introduced this week that would eliminate the tax credit. State audits and studies of the film industry say the movie industry is picking the pockets of taxpayers – with the blessing of state officials.
“The Georgia film tax credit is not fiscally sensible at all. It absolutely does not pay for itself. It is a huge expense on the economy,” said Kennesaw State University economist JC Bradbury, who wrote one of the studies.
By: Doug Richards