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Assembly committee backs California film tax credit bill

On Location

August 08, 2012|By Richard Verrier
  • A scene from the movie "Moneyball," which received a California film tax credit.
A scene from the movie "Moneyball," which received a California… (Melinda Sue Gordon )

A state bill aimed at curbing runaway production has moved closer to becoming law.

The Assembly Appropriations Committee unanimously supported a bill that would extend funding for California's film and television tax credit program. Funding for the program is due to expire next year.

California sets aside $100 million annually for dozens of projects applying for credits between 20% and 25% of qualified production expenses for movies and TV shows.

The bill, however, was amended to provide for an extension of two years instead of five years. Industry backers sought a longer-term funding commitment to compete with other states that offer film tax credits, but that has been a tough sell in the state's current fiscal climate.

The measure now goes to the full state Assembly for a vote, which is likely to take place next week.  The state Senate is expected to take up a similar bill later this month.  A Senate committee in June also supported a similar two-year extension.

California lawmakers first enacted the program in 2009 in an effort to compete with nearly 40 states that offer tax incentives and rebates to filmmakers.

ALSO:

UCLA study gives qualified support to state film tax credits

Study shows state film tax credit program pumped $3.8 billion into the economy

Hollywood lobbies to extend tax credit for filming

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