Posted on 05/31/2011 10:15:29 PM PDT by artichokegrower
The state Assembly voted Tuesday to extend incentives for California's entertainment industry for five more years, approving up to $500 million in additional tax credits to help keep movie-making jobs in the state.
The California Film and Television Tax Credit Program enacted in 2009 has already helped keep some $2.2 billion in film and television production and 25,000 crew jobs in California, said Assemblyman Felipe Fuentes, a Sylmar Democrat, arguing for the extension.
The Assembly voted 72-1 to extend the program from 2014 to July 2019. The bill goes next to the state Senate.
(Excerpt) Read more at sfgate.com ...
Now they are going after Internet sales tax
Hollywood has long depended on incentives and write offs, that’s no secret. The industry is still in a tailspin, losing jobs to Canada, and India.
Too late — me and my 6-figure income are Texas bound.
The way to convince people to stay is to not punish them for working hard and making good decisions when young.
But in California, there are more people in the cart than pulling it.
And I am done pulling.
It's very telling, and pathetic, the vote was 72-1. The one was Chris Norby, (R) CA-72.
It covers up to 25 percent of production budgets spent in the state and applies to films with production budgets of up to $75 million, TV movies, miniseries and certain series.
25%? That's about $19m of $75m budget. Good grief.
How do they "get it" with Hollywood, that high costs and a bad business climate will drive industry elsewhere but not other job creators?
oh please. Like Hollywood would really locate away from tropical weather if they weren’t subsidized. Right. And pigs fly.
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