Calderon
Author
The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws, including motion picture credits for taxable years beginning on or after January 1, 2016, to be allocated by the California Film Commission on or after July 1, 2015, and before July 1, 2020, subject to a computation and ranking of applicants based on a jobs ratio. Existing law allows the credit for the taxable year in which the commission issues a credit certificate for the qualified motion picture for the applicable percentage of all qualified expenditures, as defined, paid or incurred by the qualified taxpayer in all taxable years for that qualified motion picture. Existing law limits the aggregate amount of these credits allocated in each fiscal year to $330 million, through and including the 2019–20 fiscal year, except as provided. Existing law requires an applicant for the credit to file an application that contains certain information. This bill would establish similar credits under the Personal Income Tax Law and the Corporation Tax Law for taxable years beginning on or after January 1, 2020, to be allocated by the California Film Commission on or after July 1, 2020, and before July 1, 2025, except as provided. This bill would allow a credit in an amount equal to 20% or 25% for the production of a qualified motion picture in this state, with additional credit amounts allowed, including for amounts equal to specified qualified expenditures and qualified wages relating to original photography outside the Los Angeles zone, as specified. This bill would limit the aggregate amount of these new credits to be allocated in each fiscal year to $330 million plus additional specified amounts. The bill, subject to a computation and ranking of applicants based on the jobs ratio, as defined, would require the California Film Commission to allocate credit amounts subject to specified categories of qualified motion pictures in 2 or more allocation periods per fiscal year beginning on or after July 1, 2020, and issue credit certificates. The bill would additionally require an applicant for the credit to include in the application the applicant's written policy against unlawful harassment, as specified. Existing law, for taxable years beginning on or after January 1, 2016, in lieu of the credits authorized under the Personal Income Tax Law and the Corporation Tax Law for qualified motion pictures described above, also allows application of the credit amount against qualified state sales and use taxes, as provided. This bill, for taxable years beginning on or after January 1, 2020, in lieu of the credits authorized under the Personal Income Tax Law and the Corporation Tax Law for qualified motion pictures described above, would allow application of the credit amount against qualified state sales and use taxes, as provided. This bill would take effect immediately as a tax levy.
In Senate. Read first time. To Com. on RLS. for assignment.
Read third time. Passed. Ordered to the Senate. (Ayes 74. Noes 2. Page 5512.)
Read second time. Ordered to third reading.
Joint Rule 62(a), file notice suspended. (Page 5298.)
Read second time and amended. Ordered returned to second reading.
From committee: Amend, and do pass as amended. (Ayes 15. Noes 1.) (May 25).
In committee: Set, first hearing. Referred to APPR. suspense file.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (May 14). Re-referred to Com. on APPR.
From committee chair, with author's amendments: Amend, and re-refer to Com. on REV. & TAX. Read second time and amended.
From committee: Do pass and re-refer to Com. on REV. & TAX. (Ayes 7. Noes 0.) (April 17). Re-referred to Com. on REV. & TAX.
Coauthors revised.
From committee chair, with author's amendments: Amend, and re-refer to Com. on A.,E.,S.,T., & I.M. Read second time and amended.
From committee chair, with author's amendments: Amend, and re-refer to Com. on A.,E.,S.,T., & I.M. Read second time and amended.
Referred to Coms. on A.,E.,S.,T., & I.M. and REV. & TAX.
From printer. May be heard in committee February 3.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB1734 | HTML |
| 01/03/18 - Introduced | |
| 04/09/18 - Amended Assembly | |
| 04/12/18 - Amended Assembly | |
| 05/01/18 - Amended Assembly | |
| 05/25/18 - Amended Assembly |
| Document | Format |
|---|---|
| No related documents. |
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