A major company has decided to place a moratorium on new movie and film productions in Louisiana, following legislative changes to the state's film tax credit program.
Lieutenant Governor Jay Dardenne says it's an early sign of companies displeasure in the new law that lowered the tax credit to $180 million. "It's distressing to see that reaction. I hope we can alleviate some concerns down the road that we're trying to fix that," said Dardenne.
Governor Jindal signed the measure that passed in this year's legislative session. New limits for credits are part of an effort to direct monies back to the state, in trying to cover a $1.6 billion shortfall for next fiscal year.
It has been a difficult situation for Dardenne, who as Lieutenant Governor heads up the state's tourism efforts. "It's troubling. I've been a supporter of the industry creating jobs, but, at the same time we're in a position of trying to find funds for the state," he said.
