THE INCENTIVES PROGRAM - TIP

On December 4, 2024, House Bill 2 was signed by Governor Jeff Landry, thereby amending the motion picture production tax credit and the sound recording investor tax credit programs, as follows:

• For motion picture production tax credit applications submitted on or after July 1, 2025, the total amount of tax credits that may be granted in a final certification letter is reduced from $180 million to $125 million per fiscal year (7/1 – 6/30); and,
• Stipulates that no credits shall be granted for the sound recording investor tax credit program for applications received on or after July 1, 2025.

This act will become effective on January 1, 2025.