It isnt what we were hoping for, thats for sure, said one Georgia industry insider.
It calls for credits that are eligible to transfer but exceed the cap to become transferable the following year.
There are a few revisions in the second draft.
Stranger Things, Avengers EndgameNetflix/Marvel
It sets aside video game production.
It expands the definition of rural counties to anything outside the 60 square-mile Atlanta metro area.
Critics call the cap too low and the rollover from year to year confusing and risky.
There are a lot of people who believe messing with this is a huge mistake.
Its a matter of unintended consequences.
Production employees 60,000 people in Georgia and had an economic impact of $8.5 billion in 2022.
Sound stage construction and training programs are booming, and need outside productions to keep steady and growing.
The changes arent set to take effect until 2026 in any case.
Could that end of nudging others to set up shop directly in state.
Comcast/NBC Universal is there.
Lionsgate is the anchor tenant of a new studio.
Maybe, but its too soon, some say.
Everything about the tax credit has been successful to this point, said the industry insider.
A real industry, versus outsourced manufacturing of film and television subsidized by the state.
Critics hope time is on their side.
If its not sent to the Senate by midnight then it will die, at least for now.
If passed, it moves to the desk of Gov.
My favorite bill is a bill that doesnt get introduced, said one GA-based tax expert.
The state wants to ensure that they are showing a return on investment.
We appreciate the film industry.
