AB 912

Under current law, a person may claim against the person's income and

franchise tax liability a film production services tax credit and a film production

company investment credit for film production activities in this state. No person,

however, may claim the credits for taxable years beginning after December 31, 2013.

Under this bill, a person may continue to claim the credits for taxable years

beginning after December 31, 2013.

Under current law, a person may not claim the film production services credit

if less than 35 percent of the total budget for the production is spent in this state.

Under the bill, a person may not claim the film production services credit if less than

10 percent of the total budget for the production is spent in this state.

Under current law, the maximum amount of the film production services and

film production company investment credits that may be claimed in a fiscal year is

$500,000. The bill increases the maximum fiscal year amount from $500,000 to

$5,000,000.