AM Alert: California film tax credit plot thickens
08/07/2014 6:00 AM
08/07/2014 9:12 AM
We’re watching for some late plot twists in the Legislature’s effort to keep film production in California.
Some who have an interest in extending the state’s film tax credit matter will meet at the state Capitol today. The main tax credit vessel, Assembly Bill 1839, has so far marched through the Legislature without drawing a single dissenting vote.
But there have been a few wrinkles. A Tuesday item on the Deadline Hollywood blog reported that Sen. Kevin de León, D-Los Angeles, had cast doubt on the likelihood of a tax credit passing the Legislature this year. The incoming Senate president pro tem’s office discounted the blog item as misleading and inaccurate, releasing a statement in which de León pronounced himself “100-percent committed” to extending an incentive that has become a priority for Los Angeles area lawmakers concerned about the exodus of film productions from their longtime California hub.
De León still hinted at room for improvement, noting a “growing consensus that the program can and should be strengthened to better ensure its primary objective of job creation and retention,” and there are still some outstanding questions about how to make a tax credit effective. Keep your eyes on this issue as one that could take up some oxygen in the final month.
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