House votes to lift film tax credit sunset
(wwlp.com)
BOSTON (SHNS) – State representatives on Monday gave a boost to tax credits for film production, land conservation, and the rehabilitation of historic buildings as they dove into the likely days-long process of crafting their fiscal 2022 budget.
House lawmakers signed off on the three tax credit amendments before giving initial approval to the $47.65 billion spending plan for next year, and all other amendments involving revenue and taxes were quietly withdrawn with no vote or debate over possible tax increases or reductions.
Introducing the bill, House Ways and Means Chairman Aaron Michlewitz said his committee’s budget proposal aims to rebuild a stronger version of the state’s economy as it begins to emerge from the COVID-19 crisis, with investments like $50 million for adult education, $5 million for tourism marketing, and a $10 million offshore wind career training program.
Rep. Tackey Chan pitched his amendment to remove the sunset from the film tax credit — which is set to expire at the end of 2022 — as a path to economic recovery, saying that movies and TV series made in Massachusetts bolster the hospitality sector that has been hard hit by the pandemic and government restrictions.
The House voted unanimously in support of that amendment. Rep. Ann-Margaret Ferrante, the vice chair of the House Ways and Means Committee, described it as “a true stimulus package.”
House Speaker Ronald Mariano, who is overseeing the budget process for the first time since his colleagues elected him to the role last December, said the vote sends “a clear message to the film industry that we are open for long-term commitments and the economic benefits they bring to Massachusetts.”
By: Katie Lannan
