Two bills enter, one bill leaves. But one would be a far better choice than the other when it comes to Louisiana’s wasteful Motion Picture Production tax credit.

Now almost a quarter-century old, the controversial program—which over the years has cost taxpayers billions of dollars, almost exclusively benefiting wealthy out-of-staters, as in almost every year–faces reform efforts in the state Legislature. lawmakers are once again attempting to repair a program that loses taxpayers around 60 cents on the dollar. Two bills seek to make changes, and interestingly, both sponsors happen to be next-door neighbors in northwest Louisiana.

SB 232 by Republican state Sen. Adam Bass is by far the most anodyne of the two—and if anything, it may actually move backward when measured against the goal of reducing corporate welfare. It loosens several restrictions in current law, including the cap on awards for individual projects, and transfers administration of the program to the Department of Economic Development. However, it retains the current maximum rebate of 40 percent on production expenses. The bill seems designed to create more administrative flexibility, perhaps shifting the emphasis toward genuine economic development for state residents, rather than continuing the approach of handing out bribes to anyone willing to make a film or TV show.

That was the original idea behind the credit: to subsidize the creation of a homegrown support industry for film production—one that, over time, would develop sufficient infrastructure and no longer need the subsidy. Instead, because the credit is largely refundable and its sizable payouts mainly benefit the wealthy—particularly Hollywood denizens with little or no Louisiana tax liability—it’s more like reaching into Louisianans’ pockets and lifting dough that could be used for other public priorities. That’s assuming it’s not being done fraudulently. As it stands, the program is sending as much as $180 million a year, mostly out of state.

The other bill, HB 341 by GOP state Rep. Danny McCormick, would bring the experiment to an end. It terminates the program at the beginning of the next fiscal year—true to the original idea that after billions spent, the industry should now be able to stand on its own. (In fact, at least one entertainment giant has made the kind of long-term investment in McCormick’s own district that suggests it can.) Better yet, the bill redirects the savings to fund a 25-basis point cut in state income tax rates beginning in 2027. This would not only deliver direct tax relief to Louisiana residents, but also incidentally reduce the tax burden on film productions—just not through a handout. Rather than enriching a few wealthy, mostly out-of-state players, this approach would benefit a much broader swath of the state’s population.

Unfortunately, it appears the Senate bill has a much better chance of passage than the House’s. The small group of beneficiaries—including ancillary service providers, employees, and businesses that profit indirectly from this legal bribery, perhaps a few thousand people at most—will likely succeed once again in lobbying for the program’s survival. The current sunset date of 2031 has already been extended several times, and the gravy train shows no signs of slowing.

That this is how things are likely to play out is yet another testament to why, despite recent progress like flattening and lowering the state’s income tax rates, Louisiana continues to lag in real economic development—unless, of course, you’re a film producer living large off the taxpayer dime.