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Hollywood Tax Credit Would Offer $330 Million A Year In Credits For Producers « Cbs Sacramento

(AP) California lawmakers have approved legislation to http://nedqena.wordpress.com extend additional tax credits to Hollywood film productions, sending the bipartisan legislation to Gov. Jerry Brown check it out for his signature. The compromise deal was brokered by the Democratic governor with legislative leaders from both parties. It will offer $330 million a year in credits to producers through a competitive bidding process and last for five years. Los united states Angeles lawmakers had pushed to replace the current $100 million tax credit, which operates on a lottery system, as other states increasingly offer bigger incentives to lure film and TV production. The Assembly and Senate approved AB1839 by Democratic Assemblymen Raul Bocanegra and Mike Gatto of Los Angeles late Friday.
Source: http://sacramento.cbslocal.com/2014/08/30/hollywood-tax-credit-would-offer-330-million-a-year-in-credits-for-producers/

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