Financing / Crowdfunding : CA Film & TV Tax Credit Expansion Bill Clears State Assembly Committee: “Motion Picture’s Last Hope For California” by Pat Alexander

Thank you for sharing, Pat Alexander

Deadline revealed Monday that more than 100,000 letters were sent to Sacramento urging the passage of this bill and another CA film tax incentive bill in tandem, while many influential industry leaders and production workers were present at the hearing. Which is terrific there is a highly united front pushing for the two bills on the floor presently which hope to “modernize” the CA tax-incentive program in several ways, including by expanding the definition of a qualified motion picture to include series with episodes averaging 20 minutes or more, animation films, series, and shorts, and large-scale competition shows. Additionally, the bills propose increasing the available credit amount for an individual project from 20% to 35% for amounts paid or incurred in Los Angeles. The Film and Television Tax Credit Program is currently capped at $330M annually, and the bills seek to push up to $750M annually. The proposed increase would make it the second largest incentive pool in the country, after Georgia, which does not have a limit.