The Louisiana Legislature's special tax session trimmed the sails, to some degree, of the Louisiana film and tax credits. The loud cheers of the film/production tax credit proponents are somewhat premature for two reasons.
The first is the proposed constitutional amendment to rewrite Louisiana's tax code in March of next year. The proposal is quite complicated, and the ballot question itself will be long and technical. One provision of the proposed amendment makes it harder to create more tax breaks in the future.
Gov. Landry is expected to campaign big time for passage of the amendment with a lot of money to finance a "yes" campaign. If the voters reject the amendment, the changes made by the Legislature including the film/production tax credits will remain unchanged for then. A Jackson must also be concerned about the regular session of the Legislature next spring.
The session convenes on Monday, April 14, 2025, and runs to Thursday, June 12, 2025. One of the challenges the legislature will face is the projected budget shortfall of up to $500 million. This shortfall is due to an expiring state sales tax of 0.45%. The legislature must either cut state budgets or find new sources of revenues like elimination of tax credits.
Bottomline, Jackon and his cheerleaders cannot breathe easy on the pot of gold the tax credits represent until the adjournment of the legislature on June 12 of next year.
So, the big, promised bounty of G-Unit must somehow be sandwiched in between Thanksgiving of this week and his Vegas gig starting on Dec.24 if the big bucks are to arrive in Shreveport before year end. After that, Jackson will have a time interval between the end of his gig on January 4, 2025, until the vote on the constitutional amendment on March 29, 2025. And if the tax credits are still alive after that vote Jackson will have a window between March 30 and the end of the legislature session on June 12.
Hmmm...if nothing more 50 Cent is a successful businessman who makes decisions based on the color green versus black or white. He will need to be Houdini to do any film production between now and June 12, 2025, with the timeline set forth above. If a reader believes in the Tooth Fairy, the Easter Bunny, and Santa Claus combined then he/she can start placing your bets on when Jackson will spend any more money locally other than (hopefully) making this lease payments to the 'City and paying his ad valorem taxes to the Caddo Sheriff by year end.
John came to Shreveport in January of 1977 when he was transferred to Barksdale AFB.
He’s been active in Shreveport politics since deciding to make Shreveport his home.
John practiced law for 40 years and he now monitors local politics. He regularly attends Shreveport City Council and Caddo Parish Commission meetings.
John is published weekly in The Inquisitor, bi-monthly in The Forum News, and frequently in the Shreveport Times.
He enjoys addressing civic groups on local government issues and elections.