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Thu April 25, 2013
Lawmakers look to cut tax incentives for movies
LANSING, MI (AP)-- The Republican-led state House is looking to do away with tax incentives that lure moviemakers to Michigan so the money instead goes toward road maintenance.
The House on Tuesday stripped $25 million in tax credits it planned to set aside for the film industry.
The funding would go to the state and local governments for road repairs. The House also cut $25 million from an economic-development fund and allocated it for roads.
So far the GOP-controlled Senate and governor are looking to designate at least $25 million in incentives for Hollywood—half the amount in the current budget.