Louisiana's film tax credit will officially be extended to 2031, once Governor John Bel Edwards signs House Bill 562. The original bill sought to extend the incentive set to expire in 2025 to 2035.
Louisiana Film and Entertainment Association President Trey Burvant said it is still a great victory for Louisiana, its residents, and workers in the film industry.
“Look like everything else we go in with what we feel we need for our industry, and we go through the legislative process, and we try to find middle ground and I think we did that,” said Burvant.
The film tax credit is capped to cost taxpayers no more than $150 million annually.
Burvant said the six-year extension gives a big boost of confidence for productions that are looking to film in Hollywood on the Bayou…
“It gives a big boost for productions, for families that know they’ve got employment for the next eight years. It’s a big boost for local businesses all around the state that know they’re going to have additional revenues coming into their stores for the next eight years. So, all around very positive,” said Burvant.
Among the changes to the legislation is the requirement for a larger logo in the ending credits to notate the production was filmed in Louisiana. Another change is the ability to track regional spending from productions going forward.
“That way we can have a really good accounting of where these dollars flow out from. Remember that even if you don’t see the white movies trucks in your neighborhood, it doesn’t mean that small businesses aren’t being patronized by our industry,” said Burvant.
In addition to paying Louisiana salaries, Burvant said a number of local businesses also benefit; for example, antique stores, hardware stores, dry cleaners, steel manufacturers, and lumber yards.
