People typically store their bananas in a specific part of the kitchen - their fruit bowl - but this is actually one of the worst places for them to rest.
21.03.2024 - 23:37 / variety.com
Gene Maddaus Senior Media Writer Georgia lawmakers on Wednesday backed away from a proposal to cap the state’s $1 billion incentive for film and TV production. The state tax incentive has turned Georgia into a major production hub over the last decade, attracting Marvel movies and TV shows like Netflix’s “A Man in Full” and “Stranger Things” with a 30% rebate on all in-state production costs. But as the program has exceeded $1 billion annually in recent years — far surpassing the incentives offered by any other state — some lawmakers have begun to try to rein it in.
In February, the state House of Representatives passed a bill that would limit the tax credits that could be sold annually to 2.5% of the state budget — or about $900 million next year. The Senate Finance Committee effectively torpedoed that provision at a meeting on Wednesday night. Lawmakers passed a version of the bill on an 8-6 vote that lowers the cap to 2.3% but exempts projects made at the state’s largest studio facilities.
Sen. Chuck Hufstetler, the chairman of the committee, said in an interview that the exemption has the effect of eliminating the cap. “I can’t imagine anybody reaching the cap under the version we have,” said Hufstetler, R-Rome.
The newest version is the result of talks between Lt. Gov. Burt Jones and film industry representatives, according to Hufstetler and Rep.
Kasey Carpenter, the chair of the House Creative Arts and Entertainment Committee. Carpenter noted that investors are putting billions into studio infrastructure, and they are worried about the effect that the House version would have on the industry. “There was some concern that the cap we sent over — because there’s so much new construction going on — might hurt the
.People typically store their bananas in a specific part of the kitchen - their fruit bowl - but this is actually one of the worst places for them to rest.
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