"House of Cards" Tax Credit Falters in Annapolis
ANNAPOLIS, Md. (AP) - Maryland's General Assembly has run out of time to increase the yearly limit on tax credits designed to attract film projects and TV series.
The company that owns the series "House of Cards" has threatened to move operations out of state if they don't receive $15 million next season. A budget committee reached a last-minute deal last week to put $18.5 million in the tax credit fund next year, leaving cash for other projects.
But $11 million depended on a bill that failed to pass both chambers Monday due to differences between the House and Senate versions.
This leaves $15 million in next year's fund, and it's unclear how that money will be divvied up.
Actor Kevin Spacey visited Annapolis last month and urged legislators to approve the bill.