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Assembly Passes Bill to Expand California's Film Tax Credit

 
Assembly Passes Bill to Expand California's Film Tax Credit
Posted May 29th, 2014 @ 8:31am by KFBK News

A measure passed by the state Assembly would expand the state's film tax credit, and supporters say this will help keep the film industry from leaving California. 

Assembly Bill 1839 would renew and increase a state tax credit, amounting to as much as $400 million a year, compared to the current $100 million.

This would help California compete with other states like New York, Louisiana and Georgia.  

The bill would remove the current restrictions that prevent movies with budgets greater than $75 million from qualifying for those incentives. 

There are a lot of groups backing this bill, including movie-trade unions, film studio, and film commissions saying California has been losing business to other states and countries with better incentives. 

The bill now goes to the Senate, where it's expected to face a tougher challenge since some lawmakers have been skeptical of the program. 

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