Monday, June 21, 2021

CALIFORNIA ASSEMBLY BOOSTS TAX INCENTIVES TO MOVIEMAKERS

June 1, 2011 by · Leave a Comment 

It’s rare when Democrats and Republicans in the fractious California legislature see eye-to-eye on anything, but on Tuesday the state Assembly voted 72-1 to extend tax incentives for the movie and TV industries for five more years. The bill approves up to $500 million in tax credits aimed at countering even more lucrative tax bait offered by other states and countries. But Assemblyman Chris Norby, who cast the sole no vote, said that the state had no business granting special tax favors to certain industries. “If you want to support Hollywood,” he said, “go see a movie.” He then added, “I haven’t seen one in a long time.”