Arizona Senate approves motion picture tax credit

AP News
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Posted: Feb 03, 2012 10:42 AM
Arizona Senate approves motion picture tax credit

The Arizona Senate has approved a bill creating a tax credit for motion picture production in the state.

The bill that passed Thursday afternoon proposes a 20 to 30 percent tax credit for filmmakers that spend at least $250,000 in qualified expenses.

A similar bill was introduced last year and in 2010 but neither bill made it to the Governor's desk.

A 2006 law created a motion picture tax credit in the state but the incentive expired in 2010.

This year's bill would create a tax credit that lasts through 2041.

Lawmakers who voted against the bill say the state shouldn't support a particular industry.

Supporters say the bill would create film industry jobs for Arizonans.

The bill now goes to the House.