California Senate Passes Bill to Extend $100 Million in Tax Credits
A 32-3 vote gets the California Film & Television Tax Credit Program one step closer to a two-year extension through 2017.
The California Senate on Tuesday overwhelmingly approved a two-year extension of the California Film & Television Tax Credit Program.
The 32-3 vote ends worries that the measure to extend $100 million of annual tax credits -- designed to keep movie and television production in California -- might have more difficulty passing in the Senate than the Assembly, which voted 70-4 on Aug. 16 to approve its version of the bill. The Senate’s SB 1167 cut the extension from five to two years, forcing the Assembly to lower the term in its bill.
Introduced by Sen. Ron Calderon, D-Montebello, the Senate version of the measure to extend the 3-year-old program had been suspended in the Appropriations Committee for a week until it was OKd on Aug. 16 – the same day the Assembly passed its version.
The credit is scheduled to end in 2015 if the extension is not signed into law.
A coalition of Hollywood unions, guilds and associations in a statement applauded passage of SB 1167.
“The state Senate has joined the members of the state Assembly in demonstrating overwhelming support and a meaningful commitment to keeping jobs in California and contributing to a flourishing entertainment industry – one in which tens of thousands of skilled and talented Californians can build livelihoods and contribute to our state’s economy,” the statement says. “We thank Sen. Calderon for his leadership, and we look forward to the extension’s continued progress through the California Legislature over the coming weeks.”
The coalition includes SAG-AFTRA, the DGA, IATSE, the California Teamster Public Affairs Council, Teamsters Local 399, IATSE, Laborers’ International Union of North America Local 724, Professional Musicians Local 47 and the Recording Musicians Association.
- MOST SHARED
- MOST POPULAR