A bill that would have provided $1.4 billion dollars in tax subsidies for the development of media production facilities in southern Nevada died on Monday, June 2. This came after a last-minute amendment would have turned the proposal for a tax break into a study on the economic impact that a film and television industry would have had on the state.
The bill, originally, would have expanded the state’s tax credit program to $120 million annually for 15 years. Hollywood giants Sony Pictures Entertainment and Warner Bros. Discovery backed the deal, and Howard Hughes Holdings owns the property where the main project would have been developed.
The bill ultimately died in the Senate after the Assembly narrowly approved it over the weekend. A last-minute amendment would have tasked lawmakers to study how the tax incentives would have impacted the state economy ahead of the 2027 session.
Critics of the deal were skeptical of the project's long-term economic viability.
One independent analysis, commissioned by the Governor’s Office of Economic Development, determined the return on investment was not enough to offset the expansion of the film tax credit program.
