W.Va. Senate approves cut to film tax credit
CHARLESTON, W.Va. (AP) — West Virginia's tax credit meant to lure movie and other film productions may soon become less generous.
Gov. Earl Ray Tomblin has proposed cutting the capacity of the Film Industry Investment Act in half to $5 million.
The Senate unanimously passed the bill Friday after restoring the value of each credit to 27 percent. The House had lowered that income tax offset. Delegates must approve the Senate amendment.
The program increases that credit by 4 percent if the production hires locals. But program officials say productions have yet to claim more than $2 million in credits in any one year.
The West Virginia Film Office has approved $7.6 million in credits to date. While approving several productions, it denied credits to the recently cancelled MTV reality show "Buckwild."