August 31, 2012 |
The state Senate has overwhelmingly approved a bill to continue funding California's film and television tax credit. The Senate vote was 32 to 2 in favor of extending two more years of funding for the tax credit. California sets aside $100 million toward the program, which gives movie and TV producers a credit of up to 25% of qualified production expenses. The Assembly approved the bill earlier this month. The measure now goes to Gov. Jerry Brown, who has one month to sign or veto the legislation.
June 1, 2011 |
The state Assembly approved a bill that would extend California's film and television tax credit program for five more years, a move that was widely welcomed by labor unions and film industry promoters. The bill, approved by a 72-1 vote, would provide an additional $500 million in funding for the film tax credit program, which expires in fiscal year 2014. The measure now moves to the state Senate, where a vote is expected this summer. It's not clear, however, whether Gov. Jerry Brown, who has proposed steep cuts in state spending to balance California's budget, will support the measure.
August 9, 2012 |
It seems there is a way to get conservatives to support government handouts: Hand them out to conservatives. As Times staff writers Alana Semuels aud Seema Mehta reported, Mitt Romney is getting himself into trouble with Republican voters in swing states such as Iowa by supporting a bedrock Republican principle: He wants to end the production tax credit for wind energy and force power producers to compete on an even playing field with no...
June 16, 2011
It isn't too often that Sen. Dianne Feinstein, a pro-environment Democrat from California, and Sen. Tom Coburn, a "drill, baby, drill" Republican from Oklahoma, agree on energy issues. Yet when it comes to the ethanol tax credit, an egregious form of corporate welfare that unites liberals and conservatives in opposition nationwide, they are of one mind. That's why it was disheartening Tuesday when an attempt to end the subsidy and save taxpayers nearly $6 billion a year went down in flames in the Senate.
October 23, 2009 |
This year's $8,000 federal tax credit for first-time home buyers has attracted as many as 90,000 ineligible claimants -- including a 4-year-old child -- raising questions about efforts to extend the popular program. In all, tax credit claims totaling more than $600 million are suspicious, tax officials testified Thursday before Congress. The credit, on home sales to first-time buyers that close through Nov. 30, is an important piece of the $787-billion stimulus package enacted in February and is part of the Obama administration's effort to lift housing sales.
August 8, 2012 |
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.