Louisiana’s Governor has announced new tax reforms he hopes to see passed this November, but one program to be cut could end 50 Cent’s hopes for Shreveport.
The Motion Picture Production Program
Since 1992 Louisiana Entertainment, a division of Louisiana Economic Development, has provided millions of dollars in tax credits for studios to shoot their films in Louisiana. The program offers up to 40% of the cost in tax credits to qualified film or screenplay productions.
Tax Reforms VS Movies
Governor Jeff Landry (R) has called for the state lawmakers to meet sometime in November to pass an overwhelming tax reform. One of the first tax programs on the list to be cut is the MPPP.
While no plan to replace the program has been shared Department of Revenue Secretary Richard Nelson stated that a replacement is likely, “Louisiana Economic Development is in the middle of a comprehensive look at restructuring. They’re going to come up with a strategic plan to come up with some kind of replacements where basically they treat all the job creators the same. The film industry will be treated the same as all the other industries.”
Could this Halt 50 Cent’s Growing Shreveport Empire?
Over the last year, 50 Cent has made a lot of waves around Shreveport, all centered around building G-Unit Films and Television Inc. Since he first started in Shreveport, 50 has invested at least $2 million into the city. Now, the state’s lawmakers may have pulled the rug out from under him…