Friday, August 26, 2011
Senate Committee backs CA film incentive extension
Legislation for an extension of California's film production incentive program has received backing from the State Senate Appropriations committee.
The panel agreed Thursday to send Assembly Bill 1069 to the Senate floor - but with some key details still to be worked out, such as the number of years before the entire Senate votes on the bill. If the panel had not acted Thursday, the bill would have been suspended until next year's legislative sessions.
The program - aimed at halting runaway production - is slated to end in fiscal year 2013-14, with the last credits to be allocated by July 2012. It offers significantly smaller incentives than other states, with a maximum 25% credit and a total of $500 million in credits over five years
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