The cap on Louisiana’s film tax credit has only been in affect for a little over three months, but film industry professionals say that they are already seeing the number of Louisiana based productions dwindling.
Some say it isn’t the cap scaring productions away, it’s the uncertainty that they will be able to cash in their credits.
Louisiana can currently give out an unlimited dollar amount of credits.
The cap on the program limits the dollar amount of credits the state will pay out in a year to 180 million dollars.
With no guarantee that Louisiana will pay out all of the credits it gives out, a lot of productions don’t want to take the chance.
All four major gubernatorial candidates have said they will call for a special session to work on fixing our budget problem.
Some hope that they will take a second look at the cap to make changes.