November 22, 2014
CARSON CITY, Nev. (AP) - The Nevada Senate is hoping the lure of tax credits will make the Silver State a magnet for blockbuster productions headed for the silver screen.
Senators on Tuesday approved SB165 on a 13-8 vote. The bill authorizes transferrable tax credits to lure the filmmakers to Nevada. It now moves to the Assembly.
Sponsored by Democratic Sen. Aaron Ford of Las Vegas, the amended bill sets up a pilot program to provide up to $20 million in tax breaks a year for film productions. Ford says the goal is to encourage the industry's prolonged presence in Nevada.
Actor Nicolas Cage came to Carson City to lobby for the bill earlier this month.
Critics argue many states offer tax breaks and that the incentives do not lead to permanent jobs.