Movie and television productions in Georgia could claim a state tax credit even for certain kinds of work done out of state, under legislation proposed in the state House.
House Bill 285, filed Wednesday by Economic Development Committee Chairman Ron Stephens, R-Savannah, deletes the requirement that post-production footage must be shot in Georgia to qualify for the credit. It also lowers the threshold for qualifying for the credit, from $500,000 in investments in Georgia down to $250,000.
The film production business in Georgia is booming, thanks largely to the tax credits Stephens previously helped shepherd through the Legislature. A state report issued in August said the industry shot 158 projects in Georgia in the 12 months ended in June, up 11 percent from last year.
Direct spending surged to $1.4 billion from $934 million a year ago, largely because of bigger-budget flicks.
Production companies can earn a credit of up to 30 percent of what they spend on qualifying projects.
Film tax credits resulted in a hit of at least $250 million to the state treasury from 2008 to 2011, according to an analysis by The Atlanta Journal-Constitution. The state did not provide the value of incentives for 2014 in August’s report on spending.
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