Calif. production incentives earmarked for '11
Thirty projects will receive tax credit allocationThe California Film Commission already has earmarked its entire $100 million allocation of tax-based production incentives for 2011.
The commission will offer tax credits to 30 film and TV productions but has consigned 45 other projects to a waiting list. The incentives program was created last year to address the flight of production to other states and Canada.
The California program is relatively modest in scope compared to many of the tax-based incentives offered elsewhere. But a provision allowed the CFC to allocate $200 million in the program's first fiscal year, ended June 30.
For the fiscal year ending June 30, 2011, 19 films --including Sony's Adam Sandler starrer comedy "Jack and Jill" -- three telefilms and eight TV series have won tax credits in various amounts. The tax rebates can be drawn upon after Jan. 1.
"Anybody starting to shoot now is probably not going to wrap postproduction until 2011 anyway," CFC exec director Amy Lemisch noted Tuesday.
The program is set to expire in 2014, but the commission intends to lobby for more time and money. California still lacks a new state budget, so the timing isn't ripe just yet.
"It would be my hope that the program will be expanded and extended," Lemisch said. "Once we get a state budget, we will be diligently making our case for why we need this program expanded."