OK legislatures vote to drop tax benefits for film industry
Tue, 04 Mar 2014 03:00:00 GMT —
OKLAHOMA CITY (AP) - The Oklahoma House has defeated legislation to extend a tax credit program for the film industry.
House members voted 48-43 for the measure Monday - three short of the 51 votes needed to pass in the 101-member House. Its author, Republican Rep. Todd Thomsen of Ada, kept the measure alive by announcing a plan to reconsider the vote.
The state provides rebates to filmmakers amounting to $1 for every $3 dollars they spend on movie productions in the state, up to a total of $5 million. The program is scheduled to expire on July 1. Thomsen's bill would extend the credit by 10 years to 2024.
Opponents say the program is a wasteful use of tax dollars.
House Bill 2580: http://bit.ly/NoAdj9