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HomeCommunityCalifornia Assembly Passes Tax Credit Bill

California Assembly Passes Tax Credit Bill

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The California State Assembly voted unanimously yesterday to pass the California Film and Television Job Retention and Promotion Act, (AB 1839).

The legislation, authored by Assemblymen Mike Gatto (D-Los Angeles) and Raul Bocanegra (D-Pacoima), and co-authored by more than 60 other legislators, would expand and improve the state’s current film and television tax incentive program.

The bill will now go to the State Senate, however it’s still unclear whether Governor Jerry Brown will sign it.

“We can’t sit by and watch a $17 billion dollar a year sector of our economy leave California,” said Assemblyman Bocanegra. “This expanded and improved program will go a long way towards making California more competitive with other state’s programs. I appreciate the Assembly’s support of AB 1839 today and look forward to seeing it continue through the legislative process and ultimately protect California jobs.”

Since its creation in 2009, the California Film and Television Job Retention and Promotion Act is credited with generating $4.5 billion in economic activity, and preventing as many as 51,000 jobs from leaving the state.

Despite the program’s success, figures from the U.S. Labor Department’s Bureau of Labor Statistics show that from 2004-2012, California lost more than 16,000 film and television industry jobs, resulting in more than $1.5 billion in lost wages and economic activity.

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