Lawmakers propose incentives for movies filmed in Missouri
JEFFERSON CITY, Mo. (KMIZ)
Some Missouri lawmakers are working to attract filmmakers to the state.
The Show Mo Act, sponsored by several senators and representatives, reinstates tax incentives for filmmakers to come to Missouri.
The goal is to attract movie sets to the Show Me State to bring revenue. Tax credits for film projects used to be in place in Missouri but expired in November 2013. A public hearing for the Show Mo Act took place at 2 p.m. Monday.
The bill is a 50% tax credit up to $8 million per project. The bill caps the credits at $16 million a year.
Similar legislation received some opposition in past years from people who say the pay-out would be more than the revenue the state would receive. Movie producer and supporter of the Show Me Act Cole Payne explained the real economic impact of the bill is in the support for local businesses.
"Productions have to come here, spend the money, and then that spend gets audited. So if they spend less than they say they will, they get less," Cole said.
An opponent from Americans from Prosperity said the bill serves too narrow of interest and past movie tax credits benefitted out-of-state industries too much.
Other states have similar tax credits. Georgia, where many of the Marvel movies are filmed, has no cap to it's credits. Sen. Denny Hoskins pointed out during the hearing that Georgia now receives more business from the film industry than Hollywood.
Several notable films have been shot or partially filmed in Missouri, including "Gone Girl" (2013), "Planes, Trains, and Automobiles" (1987) and the Netflix series "Ozark" (2016). "Gone Girl" was the last film to receive the old tax credit.
"When shows come in town like Gone Girl, which was the last film to get our old tax credit, they had over 7,000 hotel rooms in five weeks," Payne said. "So if you average that out at $100 a night, that's over $700,000 for local hotels alone."
The Missouri Motion Media Association supports the act. Treasurer Kyle Loethen said in a news release that the bill would show the state's commitment to attracting film projects.
"We recognize the entertainment industry continues to grow and we believe Missouri deserves to compete in this industry for work in film and television," Loethen said.
At the same hearing, Sen. Mike Moon (R-Ash Grove) shared a bill that would allow families to claim unborn children on income taxes while pregnant. This bill did not receive any negative testimony.
"Well, I've always been an advocate for pro-life situations and preserving the value of developing human life," Moon said.
