Some praise the new program for allowing Arizona to compete with neighboring state New Mexico, though legislative analysts predict that the state will not see a return on its investment.
Arizona will hand out up to $125 million a year in tax breaks to Hollywood, joining the ranks of just a handful of states with nine figure caps in their incentive programs.
Under a program that Gov. Doug Ducey allowed to become law on Wednesday without his signature, productions that shoot in Arizona will be eligible for a refundable tax credit of 15 to 20 percent of expenses. The Arizona Motion Picture Production Program will start at $75 million in 2023 and grow to $125 million by 2025.
To qualify, producers must use an Arizona production facility or, if the project is primarily filmed on location, must mostly shoot and conduct pre and post production in the state. The program features a tiered credit system: productions that spend less than $10 million will get a base tax credit of 15 percent, while those that spend more than $35 million will get 20 percent. Projects with budgets from $10 million to $35 million are eligible for 17.
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