No New Film/TV Tax Credit Cash In Jerry Brown’s Budget

Governor Jerry Brown may take moguls’ money for his upcoming re-election campaign, but it looks like he’s not planning on handing out any more cash to keep production in California. Despite improvement in the state’s once-dire financial situation, there was no mention today of any increase to the state’s current $100 million Film and TV Tax Credit program in Brown’s budget proposal. In fact, with one minor example, there was no mention of film or television at all in the 271 pages of the Governor’s $154.9B 2014-15 budget. Education, the environment and healthcare all saw big increases in the proposal that leaked Wednesday but nothing for Hollywood. As well, citing that “wisdom and prudence should be the order of the day,” the fiscally tight-fisted Governor also plans on slashing the state’s long-term debt by $11 billion over the next year and putting $1.6 billion in a rainy day fund for a future possible downturn.

Related: LA Mayor Plans To “Storm” Sacramento To Increase Film/TV Tax Credit

The Governor’s budget proposal kicks off an approximately six-month process in the state legislature as the Assembly and Senate. Much of those negotiations will occur during what is an undeclared but almost certain reelection campaign by Brown. Despite the Governor’s silence on the Film and TV tax incentives today, it is widely presumed that the program will see an increase by the time a final budget is put together, passed and sent to Brown’s desk for him to sign. Brown signed the last two-year extension to the production incentive program on September 30, 2012, the last day possible. The program is set to expire later this year and end in 2017.

(more…)

This article was printed from https://deadline.com/2014/01/jerry-brown-budget-california-tax-credit-lottery-production-660863/