Get ready, Nevada.
Lawmakers are heading back to Carson City for a special session, and the buzz is that they’re about to roll out the red carpet — not for you, but for Hollywood.
That’s right. Some folks are pushing to expand Nevada’s film tax credit program – meaning millions (actually, billions) of your tax dollars could go straight into the pockets of movie studios that wouldn’t know Fallon from Fernley.
The pitch is: “This will create jobs! Boost tourism! Diversify our economy!”
Yeah, we’ve heard that script before.
The Sequel Nobody Asked For
According to the folks over at Nevada Policy, this movie doesn’t end well for taxpayers.
They’ve been waving the red flag for months, saying film tax credits “lose money almost every time.”
Nevada’s own analysts once said the state only gets back about 20 cents for every $1 spent on film subsidies.
That’s like throwing a dollar into a slot machine and getting a nickel and a sad trombone sound in return.
And it’s not just Nevada. Other states – Georgia, New York, California – all tried the same Hollywood bribe.
The results? Flashy press releases at first… then years of red ink.
Georgia lawmaker Marvin Lim even called his state’s program a cautionary tale – and he’s right.
Temporary Jobs, Permanent Tab
Sure, a few people get short-term gigs when a film shoots in town – catering, construction, drivers – but once the cameras stop rolling, so do the paychecks.
Studies show these programs don’t create lasting jobs or meaningful growth.
Meanwhile, the film credits themselves are transferable.
Translation: the studios can sell their tax breaks to other big companies that actually owe Nevada taxes.
Gaming firms, insurance giants, you name it.
In other words, Hollywood gets the credit – literally – and Nevada gets stuck trying to figure out where the money went.
According to The Nevada Independent, over 98% of all film credits in Nevada’s program have been transferred.
That’s not exactly a blockbuster for transparency.
The $1.8 Billion Plot Twist
If the whispers in Carson City are true, lawmakers are preparing to raise the film credit cap from $10 million a year to as much as $120 million a year for 15 years.
Do the math – that’s $1.8 billion in potential giveaways. The biggest public subsidy in state history.
Now, if you’re wondering who’s pushing this, it’s studio lobbyists and local developers – promising to turn Las Vegas into “Hollywood of the Desert.”
But here’s the thing: Nevada already has a booming entertainment industry. We don’t need to import one.
The Industry Is Changing Anyway
And have these folks even watched the news?
Artificial intelligence is already shaking up the film business – from editing and visual effects to scriptwriting.
The industry’s going through a revolution, and here we are trying to buy into yesterday’s business model.
If you think betting on long-term film jobs is smart, I’ve got a Blockbuster Video stock certificate to sell you.
A Bad Deal, No Matter How You Frame It
Nevada Policy put it bluntly:
“Every dollar spent subsidizing Hollywood is a dollar not spent on education, healthcare, public safety, or infrastructure.”
They’re right. We’ve got bigger priorities than padding the bank accounts of billion-dollar studios.
If Carson City really wants to grow the economy, here’s a wild idea: cut taxes across the board.
Get rid of red tape. Let all businesses thrive, not just the ones that know how to schmooze lawmakers.
Roll Credits
This is shaping up to be the biggest taxpayer giveaway in Nevada history – and the worst sequel since Caddyshack 2.
Before the Legislature starts handing out billion-dollar popcorn buckets, maybe they should remember who’s paying for the show.
Spoiler alert: it’s you.
The opinions expressed by contributors are their own and do not necessarily represent the views of Nevada News & Views. Digital technology was used in the research, writing, and production of this article. Please verify information and consult additional sources as needed.
