California OKs Only One-Year Extension Of Film-TV Tax Credits

Passing legislation in theCalifornia Legislature is certainly tedious with all of-evening marathon periods andhundreds of bills in the hurry to feed beforelawmakers adjourn for your year.So that it was semi-miraculous thatthe rules for California film and TV production received the OK — even if it wasscaled-back, pared-lower legislation. After passage ofAssemblyBill 1069by the Senate early today, the extension visits Governor Jerry Brown for professional forma signing.This continuation of Californias showbiz incentive programwas cut lower from 5 years to merely twelve several weeks with the condition Senate Appropriations Committee. It’s not the wanted-for five-year extensionof the $100M-per-annum Film & Television Tax Credit Program. That time element might be OK-erection dysfunction next season, despitethe states $9B budget shortfall,because of the needto halt runaway production and deal with other states offering similar or greater rules to film/TV producers. Theprogram features $3.8B in economic output and supported 20,040 jobs since its beginning this past year.