77°
Baton Rouge, Louisiana
7 Day Forecast
Follow our weather team on social media

Audit questions reporting on Louisiana film tax break impact

7 months 1 week 5 days ago Sunday, December 09 2018 Dec 9, 2018 December 09, 2018 11:59 AM December 09, 2018 in News
Source: Associated Press
File Image
BATON ROUGE, La. (AP) - Auditors say Louisiana's economic development agency may have overstated the impact of the state's film tax credit program.
  
The legislative auditor's office says Louisiana Economic Development only used the best set of estimates from a contracted study in the budget report it's required to submit under state law.
  
The Baton Rouge Business Report says the agency hired a contractor to determine the economic impacts of the film tax breaks in ranges of estimates. But auditors say the department only used the higher estimates in its report, which could exaggerate the program's value.
  
For example, auditors say the department estimated $893 million in Louisiana spending was generated by the tax breaks in 2016. But the economic impact study estimated between $670 million to $893 million.
  
The department disagreed with suggested changes.

More News

Desktop News

Click to open Continuous News in a sidebar that updates in real-time.
Radar
7 Days