Tax break
OLYMPIA — Washington lawmakers are considering expanding a tax incentive program aimed at making the state more attractive to the film and television industry.
The Senate Ways and Means Committee on Wednesday heard testimony on a bill that would extend the state’s 11-year-old motion picture tax credit until 2017. It is set to expire on July 1.
The bill also would increase the current $3.5 million annual credit limit to $5 million in 2011, followed by a $500,000 yearly increase between 2012 and 2014. From 2014 until 2017, the maximum credit would be $8 million.
Sen. Jeanne Kohl-Welles, the Seattle Democrat behind the bill, says it would create jobs, boost economic activity and tourism, and ensure that Washington remains competitive among the 43 other states that offer incentives.
Associated Press
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