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To pay for new Tesla plant, Nevada slashes film tax credits




The Tesla logo is shown on the front of a new Tesla Model S car at a Tesla showroom on November 5, 2013 in Palo Alto, California. Tesla will report third quarter earnings today after the closing bell.  (Photo by Justin Sullivan/Getty Images)
The Tesla logo is shown on the front of a new Tesla Model S car at a Tesla showroom on November 5, 2013 in Palo Alto, California. Tesla will report third quarter earnings today after the closing bell. (Photo by Justin Sullivan/Getty Images)
Justin Sullivan/Getty Images

Nevada lured away a new Tesla battery plant from California by offering $1.25 billion in tax breaks.

Paying for it requires a lot of cutbacks, one of which slices into the state's relatively new film tax credit program.

Started just this year, it offered $80 million in breaks over four years. 

That could be slashed to just $10 million.

Anjeanette Damon with the Reno Gazette-Journal explains what that means to the film industry in Nevada that fought hard for these credits in the first place.



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