Film industry asks Jindal to veto bill capping tax credits
BATON ROUGE - Louisiana's film industry leaders are asking Gov. Bobby Jindal to veto a bill they say is a "death sentence" for the industry.
In a letter sent Tuesday to the Republican governor, industry leaders said the bill by Republican Rep. Joel Robideaux, of Lafayette, violates existing contractual arrangements.
Robideaux's proposal would temporarily cap the state's annual spending on film tax credits at $180 million, to help balance the budget.
The bill doesn't stop the state from issuing tax breaks, which could create a backlog.
The film industry said the measure will cause uncertainty that could spur companies to film elsewhere. And they predicted it would lead to a flood of lawsuits over credits issued but not immediately paid.
Jindal hasn't said if he'll veto the bill.