Wednesday Video Spotlight: Proposed budget cuts for Oklahoma could gut state’s film industry
On Sunday, The Oklahoman published an excellent story by business reporter Paula Burkes about how proposed Oklahoma-wide budget cuts could gut the state’s film industry just as it’s starting to get its feet under it.
As part of $250 million in proposed budget cuts statewide, state legislators soon may yell “cut” to a $5 million annual incentive program that offers qualified filmmakers up to 35 percent rebates on state expenditures — 37 percent if productions include songs by Oklahoma artists, Paula reports. Senate Bill 1435 would repeal the rebates immediately upon passage, while SB 1623 would phase them out over two years.
For fiscal year 2012 alone, the rebates are responsible for more than 500 jobs and $38 million in economic stimulus, according to analysis conducted by Oklahoma City University’s Meinders School of Business for the Oklahoma Film and Music Office of the Oklahoma Tourism and Recreation Department.
Proponents — including Senate Finance Committee Chair Mike Mazzei, R-Tulsa — believe the cuts are necessary to help lower personal income taxes, Paula reports.
In this NewsOK video, the proposed cuts and their impact are explained and Hollywood stars such Famke Janssen, Milla Jovovich and Oscar winner Louis Gossett Jr. talk in glowing terms about their experiences making movies in Oklahoma.
-BAM
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Does anyone know if these bills were voted upon and the result?