Nev. film tax credit bill amended to pilot program

Nevada film industry tax credit bill amended to pilot program; reduced to $20M a year

Associated Press

CARSON CITY, Nev. (AP) -- A bill providing tax incentives to lure major film producers to Nevada has been amended to appease critics and better its chances of passage.

Democratic Sen. Aaron Ford of Las Vegas is the primary sponsor of SB165, a bill that drew the support of actor Nicolas Cage who came to Carson City earlier this month to lobby for the bill.

Critics questioned the economic benefits of the tax credit proposal, saying other states offer similar incentives and are rethinking the practice.

The Senate Finance Committee approved amendments making the program a four-year pilot project so officials can analyze the cost benefit.

Another amendment reduces to $20 million from $35 million the amount of transferable tax credits that would be available annually.

The bill now moves to the Senate floor.

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