Compromise on film tax credit may be in the works for 50 Cent's G-Unit

SHREVEPORT, La. (KSLA) - All eyes are on the Louisiana capital as talks of cuts are looming; a big concern is the possible cut to the film tax credit.

The tax credit was a big draw for 50 Cent bringing G-unit Studios to Shreveport and buying property in the area. However, lawmakers from Shreveport say a compromise may be in the works.

"I have been given the assurance by the governor's office that 50 Cent has a special package," said State Representative Steven Jackson. Rep. Jackson says he wants people to stay positive and have patience when it comes to lawmakers taking up tax reform issues. The possibility of eliminating the film tax credit has come under fire.

"The tax credit has not been cut. What we did was there was a sunset provision and so the film tax credit has not been cut, so if someone wanted to come to film tax credit today, they still could do film tax credits," Rep. Jackson explained. Earlier this year, 50 Cent announced he was signing on to lease the old Millennium Studios property. He's expected to begin production under the brand new name, G-Unit Studios. He even held the Humor and Harmony Weekend, a four-day festival in downtown Shreveport, as a testament to what the city could be. More than 30,000 people attended, with celebrities headlining many events. And it was a success, but shortly after, Governor Jeff Landry called for a special session, looking into tax reform in order to potentially eliminate individual income tax for residents.

"There is going to be an amendment put back on in the Senate on Sunday that will restore, and in my opinion, it will make the film tax credits even better, and so we have to be patient. We have to be positive," said Jackson. Rep. Jackson addressed the Louisiana House Thursday, Nov. 14 regarding amendments to the current bill. He did not reveal what the amendments are, but said the agreement between the state House and Senate will be a good product for Louisiana.

"Even 50 Cent on his social media the last two days, maybe three, and I think there because I saw something come out today. Be patient. This is a multi-stage process," Jackson said. He echoes 50 Cent's social media posts: to trust the process.

"We are working with the governor's office, we are working with 50 Cent's people, we are working to get a good deal for Shreveport," he said.

The Senate is expected to meet early the week of Nov. 18. State representatives and senators from northwest Louisiana are in constant contact with the mayor and the parish commission about this issue.