Arizona Senate approves motion picture tax credit (AP)

PHOENIX ? The Arizona Senate has approved a bill creating a tax credit for motion picture production in the state.

The bill that passed Thursday afternoon proposes a 20 to 30 percent tax credit for filmmakers that spend at least $250,000 in qualified expenses.

A similar bill was introduced last year and in 2010 but neither bill made it to the Governor's desk.

A 2006 law created a motion picture tax credit in the state but the incentive expired in 2010.

This year's bill would create a tax credit that lasts through 2041.

Lawmakers who voted against the bill say the state shouldn't support a particular industry.

Supporters say the bill would create film industry jobs for Arizonans.

The bill now goes to the House.

Source: http://us.rd.yahoo.com/dailynews/rss/movies/*http%3A//news.yahoo.com/s/ap/20120203/ap_on_bi_ge/us_film_tax_credit_arizona

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