November 27, 2014
CARSON CITY, Nev. (AP) - A cameo by actor Nicolas Cage added pizazz to a hearing on a bill proposing tax incentives to entice filmmakers to produce in the Silver State.
His appearance Tuesday came as Democratic Sen. Aaron Ford of Las Vegas presented SB165 to the Senate Finance Committee.
The proposal would allow filmmakers to apply for tax credits up to $6 million per production. If approved, the filmmaker could then sell that tax credit to another Nevada business to use as a discount on their taxes.
The maximum amount of tax credits allowed annually would be $35 million, and any unissued balance would rollover to the next two years' allotments.
Critics claim the projected grandiose economic benefit is really a fantasy that will end up costing the state.
The committee took no action.
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