by Dr. Roy Cordato
Senior Economist, Emeritas
Just as North Carolina is continuing to play the sucker by considering an expansion of its subsidies for wealthy Hollywood movie moguls Michigan has has decided to unfasten the Hollywood leaches and ticks from the skin of its taxpayers. As reported by the Tax Foundation:
On Friday, Gov. Rick Snyder (R-MI) signed HB 4122 into law, officially ending Michigan’s film Incentives program effective October 1, 2016. The program, known as the Michigan Film and Digital Media Incentive, partially reimburses (up to 25 percent) eligible production companies for certain expenditures incurred while producing digital media and film projects within the state. According the Michigan Film Office, total spending in Michigan must exceed $100,000.
And Michigan is not the only state to smarten up this legislative season. The Tax foundation also notes:
Michigan becomes the second state to end its film program this year, following Alaska’s termination of its program due to budget deficits. Arkansas has also suspended funding for its program in the upcoming year.