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News: General

California Film Commission Implementation of AB 1839

Monday, December 8, 2014   (0 Comments)
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from the California Film Commission:
California Film and Television Tax Incentive

Expanded and Extended 20-25% Credit

The California Film & Television Job Retention and Promotion Act, signed by Governor Brown in September, 2014 expands and improves California’s Film and TV incentives. The California Film Commission is currently developing regulations and other procedures to administer the newly expanded film and TV tax credit program.

Key Changes from Prior Program

  • Increases tax credit program funding to $330 million per fiscal year; extended for 5 years
  • Expands eligibility to big-budget feature films, 1-hr TV series (for any distribution outlet) and TV pilots

  • Eliminates budget caps for studio and independent films
  • Replaces current lottery with a ranking system based on jobs and other criteria
  • Provides for multiple allocation periods throughout the year

Additional 5% Credit Uplift (Maximum credit = 25%)

  • Filming outside the Los Angeles zone + 5%
  • Music scoring/music tracking recording expenditures + 5%
  • Visual effects expenditures + 5%

Eligible Productions:

  • Feature Films: $1 million minimum budget; while there is no maximum budget cap, credit allocation applies only to the first $100 million in qualified expenditures
  • Movies-of-the-Week and Miniseries: $500,000 minimum budget
  • New Television Series for any distribution outlet: $1 million minimum budget per episode (at least 40 minutes per episode, scripted only)
  • TV Pilots: $1 million minimum budget
  • Television Series, without regard to episode length, that filmed their prior season outside California; $1 million minimum budget
  • Independent Films: $1 million minimum budget; while there is no budget cap, credits apply only to the first $10 million of qualified expenditures (only independent projects may sell their tax credits)

New Selection Criteria

Productions will be ranked from highest to lowest based upon a jobs ratio and other criteria against "like” projects (TV ranked against TV, indie projects against indie, etc.). The CA Film Commission will award tax credits to those productions in each category with the highest ranking. The new program provides four separate funding "pots” for these categories : TV series and TV pilots / independent projects / non-indie feature films / and relocating TV series.

Key Dates:

FINAL LOTTERY – Original tax credit program eligibility – APRIL 2015

  • Productions may not begin principal photography before July 1, 2015

New Program: FIRST APPLICATION PERIOD - MAY 2015 (TV ONLY) / SUMMER 2015 (FEATURE FILMS)

  • Projects selected by new ranking system
  • Productions may not begin principal photography before July 1, 2015

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www.film.ca.gov    www.facebook.com/californiafilmcommission 

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 - CFC Tax Credit Implementation PDF



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