A bill to more than triple California’s film-tv tax credit program from $100 million to $330 million a year has cleared its final legislative hurdle and is headed for the desk of Gov. Jerry Brown.
The State Assembly approved Ab 1839 late Friday night, following the State Senate’s approval in the afternoon — two days after Brown and legislative leaders had worked out a compromise that reduced the annual allocation from $400 million to $330 million.
That’s still short of the $420 million offered by New York each year but backers assert it will enable California to remain a leading production center and compete more effectively against Georgia, Lousiana and New York. The new bill will expand the program to offer credits of 20% and 25% to most one-hour network TV dramas, movies with budgets over $75 million and one-hour TV pilots.
The new program, which will go into effect in the 2015-16 fiscal year for five years,...
The State Assembly approved Ab 1839 late Friday night, following the State Senate’s approval in the afternoon — two days after Brown and legislative leaders had worked out a compromise that reduced the annual allocation from $400 million to $330 million.
That’s still short of the $420 million offered by New York each year but backers assert it will enable California to remain a leading production center and compete more effectively against Georgia, Lousiana and New York. The new bill will expand the program to offer credits of 20% and 25% to most one-hour network TV dramas, movies with budgets over $75 million and one-hour TV pilots.
The new program, which will go into effect in the 2015-16 fiscal year for five years,...
- 8/30/2014
- by Dave McNary
- Variety - Film News
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