Georgia Moves to Limit Nation’s Largest Film Incentive
The U.S./State’s Legislature is in session - not a lot of current incentive activity so far this legislative session (and I don’t expect a lot, given how positively active U.S. incentive programs were last year. With the exception of Michigan (which again has proposed legislation to restore the state’s incentive program) and Georgia.
I've been tracking Georgia for the last 18 months (as the State’s Lt. Governor & Committee have been reviewing all of the state’s tax credit programs).
Georgia already has proposed legislation (HB 1180). So far no discussion on caps, mainly a limitation on transferability/sale of the Georgia Tax Credit - .
If more significant Georgia incentive changes are proposed/passed (e.g., caps on compensation, projects, etc.) this could push more productions to go outside the U.S. (specifically countries that allow non-resident ATL, and no project or annual funding caps). The UK for example could get even busier, given they qualify almost everything, i.e., resident & non-resident ATL and BTL, with no caps, etc..
There's also talk in the UK of putting a 40% incentive in place for independent productions.
I will keep you posted as things develop.