Movie-incentive bill dies in Colorado Legislature

From the Denver Business Journal:

A bipartisan bill in the Colorado Legislature that would have authorized up to $25 million per year in tax credits to attract movie and TV productions to the state died in a House committee Tuesday following a narrow vote against the measure.

The House Finance Committee voted 6-5 against advancing House Bill 1355, with three Democrats joining three Republicans in opposing the bill. All five votes for the bill were cast by Democrats.

HB 1355 would have boosted the state's incentives to lure filmmakers to Colorado rather than other states that offer larger incentive packages -- especially New Mexico, which has become a major filming site and which offers tax rebates even more generous than HB 1355 would have created.

Kevin Shand, executive director of the nonprofit Colorado Film Commission and a key backer of the measure, said the committee vote kills the issue for the year -- and may imperil his agency, which relies heavily on state funding that HB 1355 would have extended.

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