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Tinsel Town Urging for Film Tax Credit Extension

Television and film industry groups and entertainment unions are vehemently fighting to extend California’s film tax credit program, reported Los Angeles Times. Last week, a bill granting tax breaks to California film and TV production for another five years went to the state Senate, but an appropriations committee reduced the legislation’s existence to only one year. Hollywood wants the bill to be extended longer, arguing that it will prevent jobs from leaving California and going to any of the almost 40 other states that give tax incentives. Opposition to the extension, however, believes that the due the state’s $9 billion deficit, money diverted to maintain the program could cause huge proposed budget reductions to social services and education.

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Comments

One year means nothing. Producers need a 5 year commitment for TV series and the long process of putting together a film. Fine, give Cali a one year deal and let the production move to NY.... We can use the work too.

So Sacramento, will you be stupid enough to let the movie industry continue to leave? Extend the tax credit for 5 years. The workers earning the money from industry work will be paying sales tax everytime they buy something in California.
Are you willing to loose that too?

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