The CA initiative (termed: the 'Share Our Values' bill) would provide for $50m in additional credits each year for the next five years. The proposal was widely reported last month with many kudos from the liberal press, but got no traction as the bill was tabled by the CA Senate Appropriations Committee.
CA has been losing out as a production venue for some time as the expense of doing business was so much more in CA vs. other States and countries. Currently, the CA Film & TV Tax Credit program has a yearly allocation of $330m, which has tripled since 2014 to help compete against the very lucrative credit programs of New York, Georgia and some of the other southern States.
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However, Georgia recently approved anti-abortion legislation and many content producers, including Netflix and Disney, vowed to cease production of future projects in Georgia, due to this more restrictive abortion law. This put CA in a very good position and figured because of this turn-of-events they would not be required to increase the Film & TV Tax Credit program at this time.
Politics and art. Who ever said they were separate and distinct social determinants.
Jim Lavorato
President/Founder
Entertainment Equipment Corp.
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