In June, the House and Senate passed a $32 billion spending plan. In late July the Senate passed a revenue bill to fund that spending plan. The new revenue package would generate $530 million from new taxes, including $200 million from expanded gaming, as well as natural gas severance tax. Additionally, the Senate approved $1.3 billion in borrowing against future tobacco settlement payments.

As reported last month, the House was not part of negotiations that yielded this Senate product. Uncertainty remains with respect to what path forward the House chooses to take - approve the Senate plan, identify a new plan, cut funds or programs on the spending side, or a combination of all. Significant differences remain between the House, Senate, and Governor. Without a finalized budget, the film tax credit program and final approvals of applications are in a holding pattern. I am optimistic that September will yield a final resolution and projects will be able to commence shooting.

Thank you again for any advocacy you have provided to your State Senator or Representative. Please continue to encourage your elected officials to finish what has been started.