After a year of study, Georgia House and Senate leaders announced Wednesday that they’d back suspending a tax break for data centers and increasing requirements for film companies to receive one of the most lucrative tax credits in the country.
Under the proposal, which will start in the House, the state would raise the minimum required investment to be eligible for the film tax credit from $500,000 to $1 million. Companies would have to do more to get an extra 10% credit they can now receive for embedding the Georgia logo in projects.
Danny Kanso, senior fiscal analyst for the Georgia Budget and Policy Institute think tank, praised the proposal.
“These common-sense safeguards would keep hundreds of millions of Georgians’ tax dollars in-state, rather than flowing to enrich out-of-state corporations, while placing important guardrails to better manage the state’s largest tax credit program,” he said.