Blumenfield Pushes Approval of Film & TV Tax Credit Program
LOS ANGELES, CA – Los Angeles City Councilmember and California Film Commission Member Bob Blumenfield joined his colleagues on the Commission as they approved a set of emergency draft regulations for the expanded and improved California Film & TV Tax Credit Program. The approval comes in time to get the program up and running in time to accept applications for the network TV season in May.
“As one of the primary economic engines of the San Fernando Valley and surrounding region, the film industry has provided untold numbers of Angelenos with well-paying jobs, both above and below the line, for generations” said Councilmember Blumenfield. “As the media landscape shifts, it’s critical that we take action to protect those jobs, and the families they support, throughout the Valley and Los Angeles, and across the state.”
The expansion of California Film & TV Tax Credit Program is the result of the California Film & Television Job Retention and Promotion Act, which was signed in to law by Governor Jerry Brown at a Los Angeles press conference last September. The program more than triples available tax credits to $330 million for California film and television productions.
“Already we’ve seen an uptick of production in the West San Fernando Valley. Today’s action by the commission will help ensure the program’s continued success,” concluded Blumenfield.
Appointed to the California Film Commission in 2011, Councilmember Blumenfield has been a longtime advocate for entertainment industry jobs. Blumenfield coauthored and was a major advocate of AB 2026, which extended California’s existing $100 million tax credit to qualified productions through 2017. He has also been a strong proponent of intellectual property rights.
Pending final approval of the draft regulations, the California Film Commission will be able to begin distributing the funds starting July 1.
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