Sat, 21 Apr 2018 20:14:14 +0000
Do California’s taxpayers know that they’re subsidizing America-hating, anti-Second Amendment, pro-abortion, corrupt and debauched Hollywood to the tune of $330 million a year?
Matthew Blake reports for Los Angeles Business Journal that on April 17, 2018, a bill to extend California’s motion picture tax credit program sailed through a state Assembly committee without opposition.
Assembly Bill 1734 will lengthen by five years California’s $330-million-a-year film and television tax credit program. The policy is due to sunset at the end of 2019. The State Assembly’s Arts, Entertainment, Sports, Tourism and Internet Media Committee also approved without opposition Assembly Bill 2936, which is a virtually identical measure to continue the credits.
In 2004, the California legislature passed an increase of the state’s tax credit program for movies and television shows from $100 million to $330 million a year.
Under AB 1734, television shows and movies that shoot in California net a 20% to 25% refund on crew member wages, plus production and editing costs. More than 90% of shoots that use the credit take place in Los Angeles County.
The California Chamber of Commerce and various labor unions attended the committee hearing to shower praise on tax credits, claiming that the tax credits generated billions of dollars in spending including crew wages.
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