Tampa Bay Business Journal
The push to turn incentives for Florida’s film industry from direct payouts to tax credits has begun with the filing of House Bill 697 in the Legislature Tuesday.
The bill, authored by State Rep. Stephen Precourt, R-Orlando, would attempt to help Florida better compete with other states in attracting lucrative film projects. Florida, which was the center for film production in the Southeast, has been left behind in recent years as other states, including Louisiana, have become aggressive in trying to attract film projects.
With the state budget becoming tighter in tough economic times, Florida’s film incentive plan — already small compared with other states — has been reduced significantly. By providing tax credits instead, the bill would allow film productions to save money while not forcing the state to actually pay out received funds, supporters of the measure said.
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