By STATE HOUSE NEWS SERVICE June 06, 2007
Movie industry executives are awaiting the fate of a film production tax incentives bill before moving ahead with a plan to build up to 10 soundstages at the South Weymouth Naval Air Station, a top House lawmaker said Tuesday. The investment team, including two producers from the HBO series "Rome," is willing to spend between $70 million and $80 million on the 30-acre complex, where they envision a "one-stop shopping" center for filming and production, lured by the space and paucity of high buildings in the area, said Rep. Ronald Mariano (D-Quincy)."They're watching this bill before they make a commitment to Massachusetts," said Mariano, the House's Financial Services Committee co-chairman, whose district includes portions of the targeted site. The legislation, proposed by Gov. Deval Patrick and endorsed by the Revenue Committee Tuesday afternoon, would strengthen existing incentives by upping the tax credit limit, reducing the minimum budget threshold that triggers incentives, and boosting the payroll reimbursement rate from 20 percent to 25 percent. The measure also qualifies digital media productions for the credits. But the version before the panel slices out a "sunset" extension that lawmakers say would reassure investors concerned the state might change its mind in the next several years. "If we get this bill done, and they're comfortable that Massachusetts will make a commitment to the movie industry, they will set up the largest moviemaking operation on the East Coast," Mariano told the News Service after leaving the hearing.
(Sent by Chuck Slavin).