LANSING (WWJ) – Changes could be on the way for Michigan’s film tax incentives.
The state’s Senate Republican leader tells WWJ’s Lansing Bureau Chief Tim Skubick that he wants to revamp the structure of Michigan’s Hollywood tax credit before he pumps any more money into it. However, Senator Randy Richardville says when that is done there would still be a savings for companies that come here if they invest in Michigan more than they are now.
So, what’s the maximum these companies could get? “It would probably be in the very low thirties, a 30-percent kind of thing. So we can’t really, in my mind, talk about money until we first get the structure fixed,” says Richardville.
Under the old program there was a tax break of 42-percent. The legislation sponsored by Richardville, if adopted, would cut that tax break to around 30-percent.