Budget Committee Agrees to Raise Film Tax Credits
ANNAPOLIS, Md. — Lawmakers have agreed to pony up extra money next year to keep “House of Cards” filming in Maryland.
During budget negotiations Thursday, they also rejected the possibility of seizing film companies’ property if they leave the state after accepting tax credits.
Warren Descheneaux, the legislature’s top budget analyst, says a House committee will likely vote to raise the annual cap on film tax credits from $7.5 million to $11 million.
And in next year’s budget, the state will pull at least $7 million from other funds to entice “House of Cards” to stay here.
The show’s executives recently threatened to move their operation if they didn’t receive enough incentives.
A study from Towson University showed that Maryland’s film tax credit program can support an average of 690 full-time jobs yearly.
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