CT’s film tax credit has bolstered the state’s film and digital media industry. An official is calling for cutbacks.

Division of Financial and Community Development Commissioner David Lehman known as on condition lawmakers Thursday to think about capping or minimizing Connecticut’s tax incentives for film, television and digital media creation — packages that have drawn criticism for a long time from advocates who say the money would be superior spent elsewhere.

Talking at a joint listening to of a few legislative committees to focus on his department’s 2021 Annual Report, Lehman highlighted professionals and drawbacks of numerous of the state’s business enterprise incentive courses. But he known as specific awareness to the film and digital media tax credits, declaring they were between the incentives he believes are ripe for overhaul.

“If there was a dialing back again of sure plans that we oversee, that would be the just one I would propose that there is a dialogue all around,” Lehman stated.

Lawmakers on the Appropriations, Commerce and Finance, Income & Bonding committees did not indicate exactly where they stand on Lehman’s suggestion, but acknowledged the advice.

“There’s been a ton of dialogue around the film and entertainment field,” mentioned Rep. Dorinda Borer, D-West Haven, all through the Thursday hearing. “We don’t essentially want to go backwards, but to your place we should often evaluate a application to see that it’s doing the job.”

Founded in 2006, the business incentive applications have absent a prolonged way towards creating a thriving output ecosystem in Connecticut that employs countless numbers of individuals, Lehman stated, but that’s arrive at a considerable price.

Beneath Connecticut’s Movie and Digital Media Generation Tax Credit history, providers can receive — in the sort of a tax credit — up to 30% off capable production expenditures or prices incurred in the point out. There is no cap on the volume they can assert per yr.

In its 2019 yearly report, DECD located that above the previous ten years, the common financial impression of the program experienced amounted to a loss of $58,510,604 in web revenue for each year — very well above half a billion bucks in all.

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