ATLANTA, GEORGIA – The Georgia Budget and Policy Institute (GBPI) issued a statement today in response to the announcement by Georgia legislative leaders on plans to elevate requirements for film companies to qualify for the state’s film tax credit. These proposed changes, including the recommendation of a 2.5% cap on film credits, signify a crucial step towards ensuring fiscal responsibility and fairness within one of the nation’s most lucrative tax credit programs.
In the statement, GBPI’s Senior Fiscal Analyst, Danny Kanso, highlighted the importance of these proposed safeguards:
“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.
Along with the transparency and accountability measures proposed in SB 366, this announcement marks a strong step in making Georgia’s tax code more fair and accountable to its residents. GBPI commends the deliberative work of the Joint Tax Credit Review Panel and encourages the full General Assembly to support these reforms.”