Entourage film among record applications for California tax credits
A record number of submissions have been made this year to the California Film Commission, taking advantage of the state tax credits system.
The financial year runs from 1 July 2013 – 30 June 2014, and during this period the sum of $100m will be awarded under the state’s Film & Television Tax Credit Program. Under the scheme, tax credits are reserved for each selected film and TV production based on the budget for the project. A waiting list also exists for any projects under consideration once the $100m has been allocated.
Out of 380 applications – up 18% on last year – 31 projects have had the go-ahead. Among the 14 successful features to move is the film adaptation of Entourage. In addition, 12 cable series have been rubber-stamped, including Bunheads and Major Crimes, and among the TV movies to make it is Cloudy With a Chance of Love.
Although the state funding programme has been around for five years, it suffered a period of uncertainty last year due to fiscal disputes about the budget. A flurry of lobbying ensued, with Governor Jerry Brown then securing the scheme until 2017.
California Film Commission executive director Amy Lemisch said: "The record number of applications this year serves as affirmation that the production industry wants to stay at home in California. But tax credits now drive much of the decision making process, and sadly many projects that weren't selected to receive California credits will be shot elsewhere."