LAS VEGAS (KTNV) — Could we soon see a movie studio built right here in our valley?
Legislation that could help lure filmmakers and production companies to Las Vegas had a key hearing on Friday.
Assembly Bill 238 would offer transferable tax credits once a movie studio is built and movies are actually being produced here in the valley.
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But not everyone is convinced the film tax is a good idea.
Alexander Marks of the Nevada State Education Association panned the bill, saying it takes money from underfunded schools.
"Let's set the scene: The Nevada Film Marquee reads Waste Side Story, directed by Schools over Studios. Rated F, like our education rankings, for fiscal recklessness and misplaced priorities."
The President and CEO of Howard Hughes Holdings told Channel 13 the project is unlike any other business seeking tax credits in Nevada.
"I think that if you want to have money available in the General Fund to reinvest back in the economy, you have to grow the economy," said David R. O'Reilly. "There's no tax credit coming to Howard Hughes that's putting $1.8 billion in, and there's nothing to the studios until after they spend hundreds of millions of dollars.
The committee took no action on the bill Friday, and there is no date as of this report for when the Legislature could vote on this bill.
However, with the legislative session set to end on June 2, so a vote would need to happen before then.
