Louisiana film industry won't sue over new tax credit law
BATON ROUGE - The main group representing the Louisiana film industry has decided it won't file a lawsuit over a new law aimed at paring back the state's generous film tax credit program.
The Louisiana Film Entertainment Association will instead focus on proposing reforms to the legislation.
The new law, which passed in the closing hours of the session that ended last month, says a maximum of $180 million in film tax credits can be cashed in during each of the next three fiscal years, starting this month.
The association says it will not sue because Gov. Bobby Jindal's administration has so far interpreted the new law in industry-friendly terms.
The association's president Will French says he hopes to have the law amended before the cap is reached.