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Money panel OKs Nevada film tax credits

CARSON CITY — The Assembly Ways and Means Committee approved a bill Tuesday providing $10 million a year in tax credits to the film industry.

Assembly Bill 492 revives a program initially approved by the Nevada Legislature in 2013 that was gutted a year later. The 2013 measure included $80 million for film industry tax credits, but the amount was reduced to $10 million in 2014 when $70 million in credits were given to Tesla during a special session. The program has not been funded since.

Gov. Brian Sandoval proposed $5 million for film tax credits during the upcoming two-year budget cycle.

The bill must still be approved by full Assembly before it is considered by the Senate.

Contact Sandra Chereb at schereb@reviewjournal.com or 775-461-3821. Follow @SandraChereb on Twitter.

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