Yes, on September 18th, California lawmakers enacted an increase to its Film Tax Credit Program to more than triple the annual credits available from $100 million to $330 million, and to extend the program through the year 2020.

The new California law significantly enhances the California Film Tax Credit Program which will now allocate the available annual pool of credits 5% to independent films; 35% to feature films from major players; 20% to relocating television series; and 40% to new television series, pilots, movies-of-the-week and mini-series.

California’s enhanced Film Tax Credit Program represents a true paradigm shift within multi-state movie production tax incentive programs nationwide and film producers will certainly be rejoicing by saying “Lights, Camera, Action and Tax Cut!”

For further coverage of this developing area, please consult my published article below entitled “Lights, Camera, Action and Tax Cut! Spotlight on California’s Film Tax Credit Program”:

http://taxconnections.com/taxblog/lights-camera-action-and-tax-cut-spotlight-on-californias-film-tax-credit-program-2/#.VBxQ653D-Uk

Please contact me directly with any further questions and thanks very kindly for submitting your inquiry.