California Film & TV Tax Incentive Rules Get State Approval – Update
April 15th, 2015 by admin
Two months after the California Film Commission board approved new regulations for the state’s film and television tax incentives, Sacramento has signed off. Today, the Office of Administrative Law approved the new regs pretty much as the CFC submitted them back in February.
This approval is in good time for the first application process under the new $330 million credits. With the much criticized lottery system now over, TV applicants can digitally submit their projects for potential incentives based on job creation centric criteria from May 11–17. Features get their first kick at the greatly increased incentives can from July 13-25. For the first time, projects with budgets over $75 million will be eligible for the film credits. The CFC estimates those successful applicants in both the film and TV categories will be informed within two weeks of their submission.