Free Republic

At least $335 million of the state’s controversial film tax credits have been sold off to corporations and individuals that critics say likely have nothing to do with the movie the perk was intended for, in a secondary market largely shrouded from public view, a Herald review of state records has found. --SNIP-- Established in 2006, the film tax credit is a 25 percent rebate filmmakers earn if they spent at least $50,000 in Massachusetts. But many don’t end up owing enough in state taxes, and the credits are legally transferable, meaning that filmmakers can sell them — on average...

Last week, before Louisiana governor Bobby Jindal declared himself a 2016 presidential candidate, the governor quietly signed legislation into law that caps state tax credits for film in the state at $180 million per year that will save the state $77 million annually — a wise move, given that the Louisiana government currently faces a $1.3 billion budget deficit. In response, Hollywood producers have threatened to take their film projects to states that offer larger film tax credits, such as Georgia. Capping film tax credits is a new position for Governor Jindal. He has largely been supportive of tax credits,...