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50 Cent won't have to move his growing film studio out of Shreveport, La. after all.
The accomplished rapper-filmmaker is celebrating after the Louisiana Senate voted to keep the film tax credit at a capped rate of $125 million. The "BMF" creator was one of numerous people who disappointed after the House of Representatives voted to get rid of the incentive that allowed him to launch his first film studio. 50 Cent took to Instagram and shared his thoughts about the outcome.
"Man they had my ass sweating! 😓 😅😆WTF, we back in action watch 🚀 GLG GreenLightGang 🎥 I’m coming with some heat 🔥," he wrote in his caption.
Fif and other Louisiana citizens were worried after the state House of Representatives voted to get rid of the incentive as part of a larger plan for tax reform. The program allowed film producers to receive up to $180 million in credits per year. Following the vote last week, hundreds of infuriated Louisianians invaded the state capitol in Baton Rouge over the weekend to protest the decision. During a hearing on Tuesday, the Louisiana Senate Revenue and Fiscal Affairs Committee decided to reverse course and keep the tax credit at a reduced rate of $125 million.
“Today’s committee actions are just part of the legislative process,” president of Film Louisiana Jason Waggenspack told Variety. “While we wish everything could be resolved quickly, that’s not how legislation happens. We are confident our state is committed to keeping the film industry in Louisiana, and we’re optimistic for a resolution by the end of this week.”
It looks like 50 Cent and the rest of the film industry in Louisiana are in the clear for now. Now that he's got the green light, Fif will move forward with his plans to cook up more films, shows and documentaries in the future.