Changes are being made to Wisconsin's film tax credit program in order to keep it in the state budget. The Joint Finance Committee on Thursday night moved to keep the tax credit program, directing its incentives at jobs employing Wisconsin residents and money directly spent in the Badger State.
State Representative Tamara Grigsby (D-Milwaukee) says it has proven effective over the past year, attracting many productions to the state that helped to boost local economies.
Governor Doyle proposed eliminating the program in his state budget after it paid out over $6 million in tax credits last year. The governor wanted to replace the credits with $500,000 in grant money for permanent jobs created by production companies. The changes approved Thursday night will cap benefits at $3 million and create tougher restrictions for who can qualify.
The committee unanimously approved the changes, but the still need to pass the full Legislature and the governor.