Elected officials in Georgia have invested hundreds of millions of dollars in recent years to lure film and television productions to the state.
Now a new federal effort being led by Georgia U.S. Sen. Johnny Isakson seeks to give industry financiers further incentive to invest in artistic projects in the Peach State and beyond.
Earlier this month, the Republican added language to the Senate tax plan approved by committee Tuesday that would let investors in film, television and live theater productions immediately write off their expenditures on their federal tax forms the year a project is made.
Industry experts say the change would provide an incentive to financiers — those helping to underwrite everything from small independent films to blockbuster franchises — to invest in additional projects more quickly since they would receive their tax benefits in the first year, rather than spread out over several.
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