Adrin Nazarian
- Democratic
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. This bill would allow and extend the allocation of those credits through and including the 2024–25 fiscal year. The bill would require the commission to allocate those credits before July 1, 2025, as specified. This bill would take effect immediately as a tax levy.
In committee: Held under submission.
Joint Rule 62(a), file notice suspended. (Page 5298.)
In committee: Set, first hearing. Referred to APPR. suspense file.
From committee: Do pass and re-refer to Com. on APPR. (Ayes 8. Noes 1.) (May 14). Re-referred to Com. on APPR.
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.
Referred to Coms. on A.,E.,S.,T., & I.M. and REV. & TAX.
From printer. May be heard in committee March 19.
Read first time. To print.
| Bill Text Versions | Format |
|---|---|
| AB2936 | HTML |
| 02/16/18 - Introduced |
| Document | Format |
|---|---|
| No related documents. |
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