Bipartisan Leaders Host Webinar to Help Raise Awareness About Risky and Expensive Film Tax Handouts

NEVADA - Today, Nevada Democratic and Republican Legislators came together to sound the alarm about a risky film tax proposal that is rumored to be included in an upcoming special session. The plan to give transferable tax credits to the film industry will ultimately risk deep, dangerous cuts to the general fund.

Representative Marvin Lim of Georgia, Nevada State Senate Minority Leader Robin Titus, and Nevada State Assembly Majority Whip Natha Anderson hosted a virtual town hall to discuss the dangers of the proposed film tax credits. Rep. Lim recently wrote an op-ed published in the Nevada Independent, advising Nevadans to say “no” to “Hollywood handouts.” During the webinar, he shared his experience passing film tax credits in Georgia and urged Nevada Legislators to think carefully before they push forward.

LINK TO VIDEO

Representative Marvin Lim of Georgia issued the following statement:

“It is challenging, if not impossible, to figure out where these transferable tax credits are being transferred. It will have ripple effects beyond what is being touted. Caps have been routinely proposed. It has become a race to the bottom because some are rightfully concerned and want caps. The lobbying, though, has made that a challenging thing to accomplish. Every time there are attempts to limit it, there is a fear that we will lose out on more. Essentially, every time this comes up, the burden is on the legislators to say no to something that looks attractive. Because we didn’t include a formal audit, it has been difficult to say no to re-upping the tax credits. Towards the beginning, the job numbers look better, but the sustainability of these jobs is not there. With the great impact initially comes an underbelly, and we did not address the needs and burdens that we know will come up down the line.”

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