California Movie And TV Tax Credit Extension Moves Forward
The bill was altered to extend the $100 million annual tax credit program to two years instead of five, matching a bill in the state Senate.
A bill to extend California’s program of tax credits designed to stop movie and TV production from leaving the state passed a key test Wednesday and now is headed to the full Assembly for a vote, probably next week.
Before passage, the bill was changed to mandate a two-year extension of the $100 million annual program. An earlier version called for a five-year extension. The two-year term matches a similar bill making its way through the state Senate.
The bill was heard by the Assembly Appropriations Committee, which then passed it by a unanimous vote.
The bill introduced by Assemblyman Felipe Fuentes (D, 39th district -- which includes San Fernando, North Hollywood). It had previously passed the State Assembly Arts and Entertainment Committee.
The Senate version was introduced by Senator Ron Calderon (D, South East Los Angeles). It is expected to be heard by the full Senate in the coming weeks.
Gov. Jerry Brown has yet to announce whether he supports an extension of the tax credits meant to stem runaway production, a program that began in 2009 under then Gov. Arnold Schwarzenegger. Brown signed a one year extension at the end of the legislative session last year.
- MOST SHARED
- MOST POPULAR