The bill before California legislators would extend the program of $100 million in annual tax incentives for five years, to deter runaway production through 2020.
A five-year extension to the state of California’s tax incentive program to keep movie and TV production in the state unanimously passed the state Assembly Arts and Entertainment Committee on Tuesday morning.
The bill, introduced by Assemblyman Felipe Fuentes and others, is meant to provide stability to the program which grants $100 million a year in tax credits to qualifying movies, TV shows and TV commercials shot in California. Under the current law the last incentives would be awarded in July 2013.
Thursday, April 19, 2012
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