Proposed Hollywood tax incentive approved in House committee
Florida HB 451 passes 12-5
The fight to make tax incentives available to Hollywood, TV and Digital productions in Florida won another big victory in Tallahassee Wednesday.
The House Economic Affairs Committee delivering a convincing 12-5 vote to approve HB 451.
The victory sends the measure to the House floor for a make or break vote.
The proposed legislation would provide tax breaks to production companies that can present long term projects that will hire Florida workers.
Freshman State Representative Mike Miller who is sponsoring the measure calls the legislation nothing short of a "jobs bill."
John Lux CEO of Orlando based IDEAS , a state of the art production facility ,says this is a product of Miller's tireless efforts.
"Representative Miller has done a tremendous job working with legislators to get the bill through three committees in the House. While that is a great accomplishment, a full vote on the floor of the House is the next huge hurdle," Lux said. "Those of us in the industry need to be ready to contact our local legislators to ask them to support HB 451 and the jobs and economic development it would bring to Florida."
Industry insiders say an estimated 100,000 men and women across the state including 25,000 in Central Florida stand to gain millions in paychecks if the door is opened for the entertainment tax incentives.
Last year, Georgia, a state that offers generous tax incentives, reported revenues of more than $5 billion from a litany of TV and Film projects including Oscar nominated "Selma."
The measure has moved through hearings in Tallahassee with little resistance.
An estimated 16,000 companies across the state depend on TV and Film projects shot in Florida.
SB 1046 sponsored by State Sen. Nancy Deter of Sarasota, is expected to go to a final senate committee vote next week and then if approved a full senate vote.
Both bills must pass the full Senate and full House by then end of the 60-day legislative session. The session ends May 1.
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