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CALIF. FILMMAKERS GET $1.65 BILLION IN TAX CREDITS

August 28, 2014 by · Leave a Comment 

California filmmakers didn’t get the $400 million in state tax credits that the state legislature had allocated to them in hopes of putting the breaks on runaway production, but Governor Jerry Brown did sign off on a five-year deal in which they’ll get $330 million a year ($1.65 billion over the five years) — and that’s a lot more than the $100 million annually that they currently get. The new law would also do away with the lottery system currently used to decide who will get the tax breaks. Instead, they will be based on the number of jobs the films — or TV productions — will create. "This is a crown-jewel industry that provides jobs and opportunity for middle-class families in every region of our Golden State," California Senate President Pro Tem-elect Kevin De Leon said on Wednesday. "We’re sending a powerful signal today that we are 100% committed to keeping the cameras rolling and bright lights shining in our state for years to come."