Blockbuster! More Than $400M Proposed By Pols For California Film & TV Tax Credit Program
Look out New York, the home of Hollywood is about to give you a run for your tax credit money. As I reported last week, the effort to expand California’s current $100 million Film and TV Tax Credit Program will see a proposal today in Sacramento to raise the incentives up to $420 million starting next year – equal to what the Empire State hands out annually. The widely supported and multi-sponsored Film and Television Job Creation and Retention Act’s legislative leap in the 5-year program is an attempt to stem the flood of projects and jobs out of the Golden State in the last decade as studio and network runaway productions sought more lucrative regions like Canada, the UK and states such as Georgia and New York, which presently offers the nation high in credits.
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