Oklahoma State Rep. David Dank says a recently released report the Oklahoma Department of Commerce shows legislative film rebates are a “bad deal” according to a recent story from KGOU.
“I recently secured a copy of an economic impact study prepared by the Oklahoma Department of Commerce in April that makes it very clear that this film tax credit is a bad deal for Oklahomans,” said Dank.
The Oklahoma City Republican says the rebates are a waste of taxpayer dollars.
The study examined the rebates associated with August: Osage County. A 2013 release starred Meryl Streep, Julia Roberts, and Ewan McGregor. Rebates for the production totaled $4.6 million or 37 percent of the $12.5 million in qualifying expenditures.
"What did we get in return? The report estimates a total of $415,000 in state tax revenue from the film,” Dank says. “That means we lost $4.2 million underwriting one movie. Where I come from, that is bad business."
The link to read HB 2580 can be found here.
