Latest in tax credits

UPDATED, 5:59 PM: Proposed changes to Georgia's best-in-the-country film incentives program have been scrapped. The proposed changes, which would have capped tax credits at $900 million a year and banned film companies from selling the credits to third parties, had been backed by Georgia's Senate Finance Committee but…

A group of Senate lawmakers introduced a bill to try to boost local news outlets, reflecting the ongoing concern in Congress over the struggle and, in many cases, demise of newspaper, digital, TV and radio outlets. The Local Journalism Sustainability Act would provide subscribers with tax credits of up to $250…

California lawmakers are seeking a big boost to the state’s film and TV tax credit program, a $180 million hike that would bring the Golden State more in parity with New York. The state Senate Budget Committee adopted a proposal last week that would provide $90 million per year for 2021-22 and 2022-23. That is a far…

New York State's just signed fiscal 2022 mega-budget includes a $1 billion package – a combination of grants and tax credits — for small businesses including arts, entertainment and restaurant to help speed economic recovery. The Covid-19 Pandemic Small Business Recovery Grant Program steers $800 million in funding…

New York Governor Andrew Cuomo said the state's budget for 2021 includes $130 million for what he calls a Pandemic Recovery and Restoration Program to support arts and entertainment, hotels and restaurants hit by Covid-19. He presented two versions of the budget document, the working one assumes the federal government…

An amendment to a Georgia law will streamline the process of applying film and television tax credits in the state as officials said current rules have been outstripped by the explosion production in the state over the past decade. Gov. Brian Kemp last week approved changes to the Georgia Entertainment Industry…

With film and TV production booming in New York, the state has implemented a diversity job training development fund aimed at the entertainment industry, calling it the first of its kind in the U.S.  Gov. Andrew M. Cuomo said he fund will initially provide $1.05 million per year. It was passed as part of a…

Showtime's upcoming Los Angeles-set version of Penny Dreadful is actually going to film in the City of Angels, thanks to lucrative tax credits from the state of California. Penny Dreadful: City of Angels, which will star Daniel Zovatto, Natalie Dormer and Nathan Lane, has conditionally received $24.7 million as a…

Paramount's Bumblebee, which received nearly $22.4 million in state tax incentives, pumped nearly $85 million into California's economy, employing more than 2,800 local workers who took home more than $50 million in wages, according to data released by the studio. The Transformers prequel, which supported 1,250 local…

An amendment to a bill that would extend California's $330 million-a-year film incentives program would for the first time require applicants to submit a written policy against sexual harassment. If approved by the Legislature and signed by the governor, it would be the first time an anti-sexual harassment policy has…

After seven years without offering tax incentives for film and TV production, New Jersey is poised to implement aggressive new benefits to producers that would be worth up to $425 million over five years. Proponents and observers of the humming production scene in and around New York City say the move is likely to…

California's film incentives have been good for Hollywood, but they've barely made a blip at the Oscars. In the last five years, only one of the 43 films nominated for Best Picture received tax credits from the state. That film, Her, received nearly $2.5 million in incentives. Of the nine films Oscar-nominated for…