Dardenne says Disney, ABC halt new La. projects over tax credit law
BATON ROUGE - Lieutenant Governor Jay Dardenne said that a moratorium has been put in place at Disney and ABC on new film projects in Louisiana because of changes to the state's film tax credit program.
Governor Bobby Jindal signed legislation Friday that caps payouts from the state at $180 million each year. The law also caps individual credit payouts at $30 million per film, which critics said will hurt the state's chances to land blockbuster films such as "Battleship" or "Fantastic Four."
Last year Louisiana spent around $258 million on film tax credits, and averaged $271 million in credits each year since the program began in 2011. The state estimates around 13,000 jobs support the film industry in Louisiana.
Dardenne, who is running for governor, said Monday he felt the cap on the tax credits was too low, and if elected would work to change that.
"I want the thousands of Louisianans working in the film industry right now to know that I am committed to keeping their jobs here," he said.
Critics also warned the law could lead filmmakers who already had tax credits certified by the state to sue if those payments are capped under the new legislation.