Bill Aims to Expand Nevada's Film Tax Credit to $20 Million a Ye - KTVN Channel 2 - Reno Tahoe Sparks News, Weather, Video

Bill Aims to Expand Nevada's Film Tax Credit to $20 Million a Year

Posted: Updated:
Nevada lawmakers are looking at a bill that would reinstate a tax credit for filmmakers that shoot in the Silver State. Even though filmmakers want the extra help, getting it could be a different story.  

If you've been to the movies lately, you might have seen Paul Blart Mall Cop 2. It was the first film to receive Nevada's film tax credit. In total, the incentives Sony Pictures got for the film was nearly $4 million. 

But that tax credit essentially disappeared.

Back in June 2013, Governor Sandoval signed Senate Bill 165 into law which set aside $80 million in tax credits for companies who shoot movies in the Silver State. 

Fast forward to September of last year, and that $80 million was cut to just $10 million - with the $70 million difference slated for Tesla's tax credits.

Right now, there's $10 million that is spread out over the next four years; Assembly Bill 147 would increase that amount to $20 million each year.

At Monday's Ways and Means Committee hearing, Assemblywoman Maggie Carlton presented AB147. She showed a video to help convince fellow lawmakers that Nevada needs more money for a film tax credit.  

Paul Jackson, vice president of the Reno Tahoe International Film Festival says having more movies made here could benefit the entire area.  "There's an economic impact as soon as they come in. The dollar-for-dollar we get back is tremendous. It's probably somewhere around 5:1."  

Those in favor of the increasing the incentive argue there were just over $8.5 million in direct expenses with the Paul Blart sequel, with 132 jobs created.  

As of now there is no vote scheduled to happen for AB 147 which could mean this bill will never make it to the governor's desk.

Powered by Frankly
All content © Copyright 2000 - 2017 Sarkes Tarzian, Inc. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.