They are at it again. After multiple bad reports, and a program that ended (yes, a government program that actually ended), the film tax credit proponents are back. Only this time, instead of a silly five-year program, this time they want to make it 30 years.
This time, the refundable tax credit will cap out at $70 million a year . . . for 30 years. Refundable. No tax liability? No problem. The state will just cut you a check.
Proponents have argued that if this program doesn’t come back, Arizona will no longer be a mecca for movie-making.
Here’s what the Department of Commerce’s Annual Report says on that note:
“A thriving film industry in Arizona has always existed and the future continues to be bright, as evidenced
by the significant number of productions – beyond those participating in MOPIC – that were produced
here. However, it is unlikely that activities directly associated with the level of existing MOPIC tax credits
can reach revenue neutrality.”
Check out the ad we made (without a film tax credit) to help defeat this proposal last year.