A group of Michigan film industry supporters unveiled a proposal Wednesday that would cap the state's spending on tax credits for moviemaking at $180 million a year and reduce the incentive rate from 42% to 32%.
Arts & Culture
The head of the state's economic development efforts today called the state's 42 percent refundable tax credit an "extreme" incentive that is "unsustainable" in the long-term since it doesn't have a funding cap.
Lawmakers and people in the film industry tackled Michigan's controversial film tax credits that Gov. Rick Snyder proposes to reduce in a live town hall Monday at CMNtv in Troy, sponsored by The Oakland Press.
The state, after weeks of uncertainty, has set parameters for reviewing film incentive applications for 2011, putting more weight on the economic benefits for Michigan and working under Gov. Rick Snyder's proposed $25 million cap.
The Michigan Film Office released details today on the policy for approving existing and new applications for the state’s film incentives for the rest of 2011.
Backers of Michigan's film subsidies asked Tuesday that state lawmakers reject Gov. Rick Snyder's proposal to essentially end the program and instead adopt a modified version with reduced levels of reimbursement.
Michigan's top economic development official on Friday defended Gov. Rick Snyder's plan to put a $25-million cap on new incentives for filmmakers but expressed a willingness to work with the movie industry on any compromise that may emerge in the state Legislature.
About 55% of Michiganders like seeing moviemaking in their communities, but they are divided on whether the state's generous incentives to filmmakers are a wise use of tax dollars, a Free Press-WXYZ-TV (Channel 7) poll shows.
Film industry supporters are using social media to raise their numbers and their voices in a mounting battle against state legislators and the governor to protect Michigan's film tax incentives.
Michigan film industry leaders are mounting a campaign that begins with a high-profile gathering tonight to persuade lawmakers that the state needs more money for movie tax incentives than Gov. Rick Snyder's proposed $25 million.