California Extends Film Tax Credits

Jun 27, 2018  •  Post A Comment

California Gov. Jerry Brown signed legislation today extending the state’s tax credit program for TV and film productions. The measure extends the plan by five years, to 2025, with $1.6 billion in credits, Variety reports.

The announcement was made today by the Entertainment Union Coalition, a coalition of the California IATSE Council, Directors Guild of America, International Brotherhood of Teamsters Local 399, LiUNA Local 724 and SAG-AFTRA.

Variety quotes the group saying: “As a coalition that represents working men and women of the entertainment industry, we are elated that the California film and television production tax credit program has been extended through 2025. Our members are those who lose when film and television production leaves this state and they are also the direct beneficiaries when it returns to and stays in California.”

Variety adds: “The program, which allocates as much as 25% of the budget to credits, was more than tripled in size in 2014 to $330 million annually 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.”

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