Bill would scrap movie-making tax credits in Utah
SALT LAKE CITY — A bill in the Utah State Legislature would scrap the tax credits for movie-making in Utah, but preserve a financial incentive to lure film projects to the state.
Rep. Jeremy Peterson, R-Ogden, unveiled House Bill 162 on Tuesday. It would do away with a tax credit offered to film companies that make motion pictures in the state. However, Peterson told FOX 13, he would preserve a multi-million dollar incentive fund for those companies.
Peterson said his bill would help gauge how taxpayer dollars are spent.
“They have to demonstrate they have an economic impact on the state,” he said.
On its website, the Utah Film Commission advertises up to 25-percent of a film’s production costs back with a tax credit. The Governor’s Office of Economic Development has said motion picture productions in the state can generate millions in economic impact per film.
The bill will be considered when the Utah State Legislature meets next week.