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HomeCommunityCalifornia Senate Approves Tax Credit Extension

California Senate Approves Tax Credit Extension

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The California State Senate passed SB 1167 yesterday in a 32 to 3 vote. The bill, put forward by Senator Ron Calderon, (D-South Los Angeles, District 30), would extend the California Film & Television Tax Credit Program for an additional two years, at a cost of $100 million per year. An almost identical sister bill – AB2026 authored by Assembly Member Felipe Fuentes – was passed by the California State Assembly last week.

A coalition of entertainment-industry unions, guilds and associations – including IATSE, SAG-AFTRA, the DGA, International Brotherhood of Teamsters, Local 399, Professional Musicians Local 47 and the Recording Musicians Association – issued a joint statement that read: “The State Senate has joined the members of the State Assembly in demonstrating overwhelming support and a meaningful commitment to keeping jobs in California and contributing to a flourishing entertainment industry – one in which tens of thousands of skilled and talented Californians can build livelihoods and contribute to our state’s economy.

“We thank Senator Calderon for his leadership and we look forward to the extension’s continued progress through the California Legislature over the coming weeks.”

The Tax Credit extension legislation will face a few more procedural hurdles before landing on California Governor Jerry Brown’s desk for final approval. So far, Brown has not revealed whether he will sign the legislation, but last year he approved a one-year extension of the program, which is credited with infusing almost $3.8 billion in the State’s production industry, and saving some 20,000 entertainment industry jobs.

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