Thu March 27, 2014
Senate Extends $5 Million Film Rebate Program
A $5 million annual rebate program that has been used to lure big budget films to Oklahoma would continue for another 10 years under a bill that is heading to the governor's desk.
"The ten year extension of our rebate program paves the way for strengthening and solidifying the future of our growing Oklahoma production industry," Oklahoma Film & Music Office Director Jill Simpson said in a statement."
Under the program, Oklahoma provides rebates to filmmakers of $1 for every $3 they spend on movie productions in Oklahoma, up to a total of $5 million annually. The $5 million cap has been reached in each of the past three years, and the rebates are only made on qualifying expenditures.
Supporters say the program helps Oklahoma compete with other states, but opponents say it's a waste of taxpayer money.