The Hollywood movie studios seeking $1.4 billion in transferable tax breaks over 15 years have clearly not received a red carpet rollout from the Nevada State Legislature.
Assembly Bill 238, which proposes a twelvefold expansion of the state’s transferable film tax credit program, passed the Assembly late Friday, May 30 in a 22-20 vote, the thinnest margin allowable since a tie would mean not passing. That left the high profile bill three days to pass the Senate. However, two whole days came and went, leaving the bill with less than 24 hours to make it across the finish line.
The Senate Finance Committee on Sunday, June 1 appeared to be gearing up for a late night hearing on the film tax credit bill, but instead the full Senate withdrew the bill from the committee and allowed it to t