You need to read these three articles from The Times-Picayune:
Movie tax credits could pay for condos, golf courses
FBI raids LIFT offices as part of tax credit probe
FBI raids offices as tax probes widens
The Daily Advertiser has a good editorial too:
Tighten rules for issuing tax credits
LIFT has been responsible for a lot of production in the state, and it's currently building the Film Factory, a $185 million studio and vocational school, in New Orleans. The company's Shreveport projects include "Mr. Brooks," "Factory Girl" and "Premonition."