Jindal answers question about expiring movie tax credits

SHREVEPORT, LA (KSLA) - Louisiana Governor Bobby Jindal responded to a question on Tuesday about not addressing the state's movie tax credit in the recent Legislative session.

"There's going to be a session probably as soon as January. These incentives go through the end of Deceember. There's plenty of time to make sure we get this right. We've got a great growing movie industry we're fully supportive of that," he said.

Jindal says he wants to put policies in place to make sure all credits would go toward things that are movie related.

From July 9
SHREVEPORT, LA (KSLA) - Louisiana Governor Bobby Jindal's announcement there will be no more special sessions this year may have an impact on the state's movie industry, including Shreveport.

The tax credit that affects infrastructure is set to expire at the end of the year. Without a special session to extend it, local leaders fear it may send the wrong message to movie makers. Shreveport Mayor Cedric Glover says already this year, the city has seen more than $202 million thanks to the movie industry. That's compared to $184 million in all of last year.

"Certainly it cannot bode well for the future of the film industry in this state. However, I'm continually optimistic, hopeful, that whether we end up in special session this year or not, that certainly some action will be taken at some point that will look to regain the momentum that we may unfortunately lose if we maintain this course," Glover said.

A spokesman with the Department of Economic Development says there's no reason to panic. Chris Stelly says all projects in the works will still get tax credits. Some of them, however, have to spend half of their proposed budgets by the end of this year in order to extend their credits through next year.

Meanwhile, the legislature has ordered a study of the tax credit program to determine its future.