Louisiana film industry won’t sue over new tax credit law

BATON ROUGE, La. (AP) — The main group representing the Louisiana film industry has decided it won’t file a lawsuit over a new law aimed at paring back the state’s generous film tax credit program.

The Advocate reports that the Louisiana Film Entertainment Association will instead focus on proposing reforms to the legislation.

The new law, which passed in the closing hours of the session that ended last month, says a maximum of $180 million in film tax credits can be cashed in during each of the next three fiscal years, starting this month.

The association says it will not sue because Gov. Bobby Jindal’s administration has so far interpreted the new law in industry-friendly terms.

The association’s president Will French says he hopes to have the law amended before the cap is reached.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s