On Tuesday, House Bill 1362 passed out of committee, and we are one step closer to increasing our state’s film incentive cap from the current $30 million to $80 million. This is a worthy opportunity to diversify our economy while creating a stronger, creative workforce. Additionally, an $80 million cap creates the opportunity for approximately $500 million in direct production spend per year.   HB 1362 would lower the potential rebate a project could receive from 38% to a maximum of 30%. This tightening of the faucet still makes Oklahoma’s incentive industry-competitive while creating an opportunity to spread more money across all projects.   Per The Oklahoman, “HB 1362 would create three tiers of productions as opposed to the current two. If it is passed by the state Legislature and signed into law by the governor, the bill would allocate $5 million annually for projects with total expenditures of less than $1 million; $18.75 million for projects between $1 million and $7.5 million;...