Governor Granholm has signed into effect a new law that will require the state’s troubled film office to issue twice yearly reports about how Michigan’s generous film subsidies are used.
The Film Office will now be required to name the productions that receive public financing and provide details on production spending and employment statistics.
Beginning Jan. 2 productions that seek tax credits must disclose how many people involved in the production made more than $250,000 and the number of employees who are Michigan residents.
A September report from the non-partisan Senate Fiscal Agency found that the film credits, which refund up to 42 percent of production costs, have been an economic drain on the state.
According to the report Michigan spent $37.5 million in FY 2008-09 to generate $21.1 million in private sector activity and was expected to spend $100 million in FY 2009-10 to generate $59.5 million in private sector activity.