Name That Party: CA Senate pushes $400M additional tax credits for Hollywood

8/21/2014

A California Senate committee wants to quadruple the entertainment industry subsidies keeping production in Hollywood.

With a unanimous vote, the appropriations committee passed a $300 million increase in tax credits for film and television, bringing the size of the controversial program up to $400 million. Assembly Bill 1839 is coauthored by Assemblymen Raul Bocanegra, D-Pacoima, and Mike Gatto, D-Los Angeles.

The committee has put its fingerprints on the bill, tinkering with some key provisions. As Deadline Hollywood reports, the legislation now strips out at least one part of the current system — a complex lottery system that came in for criticism even from advocates of subsidizing production. “Applicants will be ranked according to the net new jobs created and overall positive economic impact for the entire state,” said Senate President Pro Tem Kevin de Leon, D-Los Angeles, calling the lottery “flawed and arbitrary.”

Read more at Cal Watchdog.

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