Gov. Rick Snyder and legislative leaders reached a budget agreement for 2012-13 on Thursday that includes a doubling of the stateâs annual film subsidies to $50 million for at least one year.
The move comes only a year after the stateâs nascent movie program was sharply cut â from an open-ended subsidy of up to 42% of all project costs â out of concern it was becoming unaffordable and an inefficient use of tax dollars. The cuts prompted a steep slide in TV and film activity in Michigan.
Budget Director John Nixon said in a conference call with reporters that the extra money â which became available when state tax revenues increased more rapidly than expected â is not guaranteed over the long term.
There should be âno expectation that it goes beyond 2013,â Nixon said.