Revised Film Incentive Program To Get $25 Million Credit

LANSING – The revised Michigan film incentive program is expected to receive $25 million under the budget negotiations that have been ongoing the last two days, Gongwer News Service has learned.

Governor Rick Snyder proposed replacing the film tax credit under the Michigan Business Tax, whose repeal will occur under the tax legislation Snyder will soon sign, with a $25 million appropriation. The House passed no money for a film incentive program while the Senate approved $10 million.

A source with knowledge of the decision, speaking on background because budget talks continue, told Gongwer that top officials have tentatively agreed to spend $25 million.

Negotiations are ongoing today and Gongwer will have further updates as warranted and complete coverage in today’s Michigan Report.

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