Leger supports film leader's request for Jindal to veto film tax credit cap
Posted on 6/17/2015 1:04:00 PM.
State film leaders are urging Governor Bobby Jindal to veto legislation that would cap the state's film tax credit at $180 million.  The bill puts a cap on the redemption of film tax credits, but does not limit how many tax credits can be issued.  


New Orleans Representative Walt Leger says he supports the movie industry's request.
 
"I'd prefer for the governor not to sign a bill that, I think, many of us can agree, on its face, looks to be unlawful.  That would lead to litigation that will cost the state money that we can scarcely afford."

Since the measure doesn't curtail the state from issuing tax credits, he says it could lead to lawsuits by people whose tax credits are denied after the $180 million cap is reached.  Leger says a major problem he has with the measure is that it takes a state authorized and certified tax credit and renders it worthless in some years.

"It would be no different than telling someone that the $5 bill in their pocket isn't worth $5 this year, but if they come back next year and get in the front of the line, then it will be worth $5."

He says the bill could lead to an unfavorable climate that could deter companies from filming in Louisiana.  Proponents say if the governor vetoes the measure, it could lead to cuts to higher education and health care.  But Leger believes a veto will not make it that difficult for lawmakers to fund all priorities in the state.

"I think there are other instruments out there that will add up to either generating revenue or preventing the state from having to expend revenue that will eventually even this thing out." 
Film Industry, tax credits, Walt Leger, veto




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