California Assemblyman Mike Gatto (D-Los Angeles) and Senator Kevin de León (D-Los Angeles) today announced a plan to introduce new film and television production tax credits for the state in January 2014, when the legislature returns from interim recess. Competitition from out-of-state incentive programs have been a prime concern in recent years particularly in Gatto’s Southern California district which spans Burbank, Glendale, and Hollywood and includes many of LA’s most prominent studios and post-facilities including DreamWorks, Disney, Universal, and Warner Bros. But Gatto and De Leon don’t expect an easy road ahead. They’re meeting with industry and studio figures as well as below the line pros and small business owners to gather feedback before setting the parameters of their proposed bill. “I think the entire program needs rethinking – not just renewing and throwing more money at it. We need to make incentives bigger and make them smarter and spend funds on things that matter,” Gatto told Deadline.
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