Film News Roundup: California Production Tax Credit Extension Moving Forward

Film News Roundup: California Production Tax Credit Extension Moving Forward
In today’s film news roundup, California legislators have started working on an extension of the production tax credit, Golden Lion winner Lorenzo Vigas is working on his next film and Tribeca zombie thriller “The Night Eats the World” gets sold.

Tax Credits

California legislators have begun the process of extending the California Film and Television production tax credit for five years beyond its 2020 expiration with bills introduced in the State Senate and Assembly.

The Senate Governance and Finance Committee approved Senate Bill 832 this week. The bill would maintain the annual allocation of credits at its current level of $330 million. The program, which allocates as much as 25% of the budget to credits, was expanded in 2015 to compete effectively with incentives in New York and Georgia.

The program is overseen by the California Film Commission, which selects the TV and movie projects to qualify partly based on the number of jobs created.
See full article at Variety - Film News »

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