Nevada lawmakers have crafted a bill that would provide massive tax credits in an attempt to bring film production to the Las Vegas area.
The tax credits wouldOn the drawing board are two film production sites — one on the campus of the University of Nevada, Las Vegas and another in the Summerlin area of Las Vegas.
"It creates a whole new industry in Nevada," the bill's sponsor, Democratic state Sen. Roberta Lange, of Las Vegas, said in an interview with The Associated Press. "I think it helps build and diversify our economy, which is something we’ve talked about in Nevada for as long as I’ve lived here."film industry's expansion
into southern Nevada and would commit up to $1 billion on production over the next decade "pending the passage of legislation guaranteeing a competitive Nevada production incentive." The tax credits could be 30% of the production and construction costs for films – up from the current 15% threshold.RAIDERS OWNER MARK DAVIS BLASTS OAKLAND A’S POSSIBLE LAS VEGAS MOVE"The risk is really on the developers, not on the state of Nevada," said Republican Senate Minority Leader Heidi Seevers Gansert, of Reno, who co-sponsored the bill.
Tax incentives for some of the nation's largest companies have become a major driver of recent efforts to diversify Nevada's economy.
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