Eye on Annapolis: Tax credit keeps ‘Veep’ filming in Maryland
Posted: 1:57 pm Wed, December 12, 2012
Daily Record Business Writer
But the show’s future success in the state may depend on the longevity of a film production tax credit, which will expire in July 2014.
The Film Production Employment Act of 2011 makes up to $7.5 million in tax credits available to film and television productions in the state. The Department of Business and Economic Development administers the credit, which should put 27 percent of film production costs for “Veep” back into producers’ pocket.
Film industry advocates say shows like “Veep” would not come to Maryland without the tax break.
DBED cannot award the credits past July 2014, though, and an attempt to extend the tax credit in this year’s General Assembly session never reached the floor of the House of Delegates after being approved 46-0 in the Senate.
The bill, SB 1066, was sponsored by Sen. Edward J. Kasemeyer, D-Baltimore County and Howard, and increased the amount of total annual credits to $22.5 million while extending the program to July 2016.
DBED estimates “Veep” will have an economic impact of more than $40 million in its second season. Almost 1,000 crew, actors and extras were hired for the first season of the show, which stars former “Seinfeld” actress Julia Louis-Dreyfus.