Louisiana's film tax credit program to continue, with a cap
BATON ROUGE - Lawmakers have reached a deal to place a long-term cap on, but not get rid of, spending for Louisiana's film tax credit program, which is both derided as wasteful spending and championed as an economic driver.
With a 33-2 vote Friday, the Senate gave final passage to a compromise reached with industry representatives.
The deal will continue a $180 million limit on the amount of money that taxpayers will spend each year on the tax credits doled out to film and TV productions.
In addition, the state economic development department could only issue $150 million of those credits annually, in an effort to pay down a backlog of credits that producers haven't yet cashed into the state.
Gov. John Bel Edwards' administration supports the compromise.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Another Louisiana special session on taxes opens
Bridge on N. River Road impassable since 2016 flood, drivers demanding answers
WATCH: Python hunter rescues 4-foot alligator from the grip of a 10-foot...
Nutria spotted around City Park Lakes, best left alone
Power returning after thousands affected in EBR after outages
Temeka Johnson basketball camp about more than the game
Saints looking to fill backfield void during Ingram's 4-game absence
Saints RB Mark Ingram says he's 'not angry' with his contract
Sean Payton's coaching style propels him into 13th year with Saints
New coach excited to change basketball culture at Southern