Hollywood presses for extension of state film tax credit
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Hollywood unions and industry groups are lobbying hard to extend California’s film tax credit.
The state approved $500 million in film tax credits over five years in 2009, but that money is expected to run out next year.
The industry is pushing for legislation that would extend the program, which they helps keep jobs in California when nearly 40 other states offer incentives to lure productions.
But proponents are facing some push-back as legislators grapple with a fiscal crisis that could force massive proposed budget cuts to schools and social services.
For more on the tax-credit developments, see Monday’s story in the Los Angeles Times.
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