It’s no secret that Hollywood operates by the “Golden Rule” of “He who has the gold makes the rules.” But all the gold in California (that may or may not be “in a bank in the middle of Beverly Hills,” according to the old song by The Gatlin Brothers) can’t stop Louisiana from becoming Middle America’s answer to Hollywood—if we pass Senate Bill 232 by Senator Allen, use our incentives wisely, and play like a team.

Louisiana disrupted Hollywood over 20 years ago by introducing tax incentives for motion picture productions that film here. Since then, productions have spent more than $9 billion that has been certified by the state. We built an industry virtually from scratch, employing more than 10,000 residents at our peak. We became so proficient at facilitating production that we’ve produced seven films nominated for Best Picture at the Academy Awards since 2012.

Today, we stand on the cusp of disrupting the film industry once again with SB 232. Even with a pared-down $125 million annual program that is on the verge of being doubled by our neighbors in Texas, thanks to a commitment by Governor Jeff Landry, his administration, and our legislature, Louisiana has a golden opportunity to change the game.

Coupled with President Trump’s recognition that Hollywood is dying and states like Louisiana are feeling the brunt due to foreign competition, we are now on a shared mission to get our crews back to work and make the entertainment industry in our nation great again.

But the root of the problem goes back to that gold in California—or the lack thereof. Decades of poor business decisions have led Hollywood executives to mitigate risks by green lighting fewer projects and, far too often, by accepting foreign money and incentives to shoot abroad.

The truth is, if we allow people who may not share Middle America’s values—or even the best interests of the U.S.—to control all the gold, we play by their rules. We give them oversized influence and allow them to help make the movies they want us to see.

Hollywood executives won’t finance just any project that crosses their desks. The same should be said for the State of Louisiana. SB 232 gives Louisiana Economic Development the ability to pass on projects that don’t serve the best economic interests of our residents and businesses or attempt to shoehorn their way into New Orleans when it’s simply too crowded. Our gold, our rules.

What’s somewhat disruptive is that SB 232 turns what was once a stackable “up to 40%” Louisiana tax credit into a hard, flat, more bankable 40%. It removes internal limitations on how the money is spent, which often make other states and nations seem like a better deal. Louisiana might be the best deal out there once SB 232 passes, but there will be a higher bar to qualify. A studio or streamer willing to make a longer-term investment or commitment to bringing more work to Louisiana probably deserves greater consideration than others.

The real disruption, however, is our ability to use the incentive to prioritize Louisiana.’s best stories, content creators, production companies, and, most importantly, investors. When profits and residuals flow back to Louisiana—instead of to that bank in Beverly Hills—we empower our people to green light the movies that Louisiana and the rest of Middle America want to see.

And nothing could improve the state’s return on investment for the tax incentive program better than actual returns on investments for intellectual property owned, at least in part, by Louisiana residents.

Many forget actual name of the incentive program is the “Louisiana Motion Picture Investor Tax Credit.” Unfortunately, under the former governor’s administration, we ended the full transferability of motion picture tax credits that allowed production companies to sell them to Louisiana taxpayers who needed them, much like the current system in Georgia.

In its place, we offered an often cumbersome $0.90 buyback process that encourages production companies to sell their credits back to the State of Louisiana at a discount. That means the state literally issues checks to major studios or streamers that get deposited into banks in California.

However, production companies can still name a Louisiana taxpayer as an irrevocable designee at any point before the state issues the tax credit. Essentially, the taxpayer makes a short-term loan to the production company that is repaid with tax credits.

It’s a win for the production company because they can monetize their credits faster. It’s a win for Louisiana taxpayers because it can help them reduce what they owe the state in income tax by at least 7.5%. And it’s a win for Louisiana because not only does it make our state a more attractive place to film, it prevents the State Treasury from having to issue large checks. There’s a big difference between money going out to Hollywood versus income taxes not being collected from a Louisiana taxpayer.

Whether by amending SB 232 or by committing to using the rule-making process to undo bad policies implemented during our former Democratic governor’s administration, we can more easily empower Louisiana taxpayers to become Louisiana investors.

Taxpayers should be offered a business-friendly, one-year look-back to use motion picture tax credits to offset their previous year’s income tax liability. Tax credits are good for five years once issued, but if you’re issued credits in 2025, you currently can’t use them to offset your 2024 liability, thanks to the old regime. A one-year look-back would be music to the ears of our CPAs.

Similarly, the past administration adopted a policy of limiting the issuance of tax credits to only one person or entity who wants to be named as the production’s irrevocable designee.

If we want to encourage Louisiana ownership and investment in motion picture production, we must allow multiple Louisiana taxpayers to receive tax credits for helping to finance a production. Let’s make it easier for doctors, lawyers, dentists, welders, small business owners, and our most profitable companies in Louisiana to become part of the film investment process. And if President Trump can get Congress to enact similar federal incentives to encourage Middle-American investment through a revamped Section 181, it could be “game over” for our foreign adversaries in the movie business.

Louisiana can facilitate just about any production. The time has come to start making our own to ensure our industry is always working.

Like the song says, if you’re a kid who’s “been dreaming about California,” (or Texas or Georgia) you should know that Louisiana is a “brand-new game.”

Patrick Mulhearn is the CEO of Irrevocable Designee, LLC, a company which specializes in helping production companies connect with Louisiana taxpayers who want to reduce their income tax liability through Motion Picture Tax Credits. He’s the former Executive Director of Celtic Studios in Baton Rouge.