Calif. Senate approves film tax credit

Sept. 1, 2012 at 11:54 AM

SACRAMENTO, Sept. 1 (UPI) -- The California state Senate has approved a bill to extend the state's film and television tax credit for two years.

The Senate voted 32-2 in favor of extending the credit for as much as 25 percent of qualified production expenses for movie and television producers, the Los Angeles Times reported Friday. The state sets aside $100 million to cover the program, which was set to expire next year.

Film industry officials had been pressing for a five-year extension of the program -- asking California to show a commitment to the industry, which has been lured to other states with higher financial incentives, the Times reported.

California Gov. Jerry Brown has one month to sign or veto the legislation, which has already been approved by the Assembly.

Related UPI Stories
Topics: Jerry Brown
Latest Headlines
Trending Stories
Pre-Super Bowl 'Jungle Book' teaser features Mowgli, Baloo
Michael Jackson's daughter Paris reveals she's in AA
Susan Sarandon responds to Piers Morgan criticizing cleavage
Watch every star-studded Super Bowl commercial of 2016
Fox, Lonely Island to launch sketch comedy show