INCENTIVES UPDATE March 22, 2011

While some state programs are still uncertain in the incentives world - others like Louisiana, are very stable and very busy, and a few like Mississippi and Utah, have increased their incentives and expect record years. You can now start to make decisions about where to shoot, and know what to expect.

ARIZONA - It looks like the new bill is dead. While the AZ senate passed the new legislation by a 19-11 vote, Jack Harper, the Chairman of the AZ House Ways & Means committee, said that "When entities get desperate to swindle taxpayers out of tens of millions of dollars, they'll resort to dubious means," so he killed the bill. Unless he changes his mind, there will be no incentive in Arizona for now.

OHIO - Although there was talk of terminating the program, the Governor has included funding for incentives in his new budget, with no changes.

PENNSYLVANIA - Another state where there was concern that the program would end. Instead, the Governor continued funding at $60 million per year.

NEW MEXICO - The plan to drop the refundable credit to 15% was quashed. Instead, the legislature and Governor have agreed on a maximum payout of $50 million per year. This is a "rolling cap;" if more credits are earned than available, the excess will be carried to the next year's allocation. The regulations were not changed.

No decision yet on the Rhode Island and Missouri programs, but it appears that both will be terminated. It looks fairly certain that the Michigan program will be capped at $25 million per year. New applications and applications currently in the queue will be evaluated under the (anticipated) new rules, which include an evaluation on a number of criteria by a new committee consisting of the Senior Vice President for Marketing and Communications, the Senior Vice President of Policy, the Vice President of Business Development and the Director of the Michigan Film Office. Their "goldrush" is over for now, as films like "Avengers" have relocated.

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