Sequel sought on N.J. tax credit for filmmakers

New Jersey lawmakers are considering a package of bills to stimulate the economy and create jobs. One of the measures would restore — and expand — a tax credit for film and digital media production. The legislation would increase the total amount of  those production tax credits to $60 million. Supporters say it’s been difficult to attract the  TV and movie industry to the  Garden State since the credit was suspended in last year’s state budget.But Republican Senator Michael Doherty does not see the benefit of restoring the credit.”I think the economic realities just don’t support it,” he said. “It doesn’t bring in the benefit that many say that it does and it’s just going to be spending money that we don’t have right now in New Jersey.”But the bill’s sponsor, Democrat Paul Sarlo, said the tax credit would be a worthwhile incentive .”You can’t look at it just what it’s going to cost,” he said. “You have to look at what it’s going to produce on the other side, the sales tax, the corporate business tax, the income tax that it’s going to generate.”The measure has cleared the Senate and Assembly budget committees. It is awaiting action by the full Legislature.

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