California Film Commission Report Backs Tax Credit for Movie Industry

The California Film Commission has released a 25-page study, What Is the Cost of Run-Away Production? Jobs, Wages, Economic Output and State Tax Revenue at Risk When Motion Picture Productions Leave California, in support of proposed legislation to provide a California tax credit of 12% on wages and other production costs for movies and TV shows.  The report lists the various tax incentives currently available to the movie industry in seven states (Georgia, Illinois, Louisiana, Maryland, New Mexico, New York, and Pennsylvania) and in Canada and other foreign countries (Australia, Fiji, Ireland, New Zealand, South Africa, and the United Kingdom).  The report chronicles movie industry tax incentives pending in eight states (Arizona, Florida, Hawaii, Illinois, Kansas, Rhode Island, South Carolina, and Texas).   

The New York Times reports that actor-turned governor Arnold Schwarzenegger supports the proposed California legislation.