Wednesday, March 25, 2009

Some state senators want to limit tax incentives for moviemakers

By KATHY BARKS HOFFMAN • Associated Press • March 25, 2009

Some state senators want to cap the tax incentives Michigan offers to moviemakers and require that more workers hired by them be from Michigan.

Legislation introduced today would reduce Michigan’s refundable movie tax credit, now 40% to 42%, down to 35% of the amount of a production company’s qualified expenditures that are incurred in producing a motion picture or other media entertainment project in Michigan.

The measures would limit the amount of credits to $50 million a year and expand a credit for building permanent facilities, such as sound stages, to 30% rather than 25%. They also would add a credit that would be given for producing national advertisements in Michigan that cost at least $250,000.

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