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California Assembly Votes to Extend $100 Million in Tax Credits for Two Years

California Assembly Votes to Extend $100 Million in Tax Credits for Two Years

The California Assembly overwhelmingly passed a bill Thursday to extend the state’s $100 million in annual tax credits for local film and TV production for another two years, according to The Hollywood Reporter. The Senate is expected to act on the bill next week.

While the tax incentives are part of an ongoing plan to keep industry money local, protect homegrown crew jobs and compete with the many attractive rebates now available in states such as Louisiana, Michigan and New Mexico, the vast majority of the money is earmarked for studio projects and not independent films. The current tax-incentive system also has some large gaps, as outlined in this piece by producer J. Todd Harris:

READ MORE: O California, Where Art Thou: Why Is the Tax Incentives Program Driving Away Indie Film?

Read the full story by Alex Ben Block at THR.

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