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By adding a cap to the program, Senate Finance Committee will save taxpayers millions of dollars a year
ATLANTA — Americans for Prosperity – Georgia (AFP-GA) today praised the Senate Finance Committee for adding a cap of $900 million on the film tax credit program.
The committee today voted out HB 1437, which includes broader tax cuts, with an amendment capping the film tax credit. In Fiscal Year 2021, Georgia awarded over $1.2 billion in credits. The next closest states are New York, capped at $420 million.
AFP-GA Deputy State Director Tony West released the following statement:
“This is exactly the right move by the Senate Finance Committee. It’s fiscally responsible to place a cap on this runaway program. It will save taxpayers hundreds of millions of dollars per year and make the possibility of future tax reductions that much more likely.”
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