Senator Scott Wilk, R-Antelope Valley, announces the Senate has passed Senate Bill 951, a measure he co-authored with Senator Holly Mitchell (D-Los Angeles), to extend California’s Film and Television Tax Credit for five years.
Wilk spearheaded passage of the Film and Television Tax Credit in 2014, which is credited with bringing billions of dollars into California’s economy and thousands of jobs to the state. He has been active in pushing for the tax credit’s extension and is the Principal Co-author of SB 951.
“Prior to the Film and TV Tax Credit the industry was fleeing the state looking for locations that offered incentives. That was particularly hard for areas like the Santa Clarita Valley where there are a lot of families involved in the film industry,” said Wilk. “Extending this tax credit is about more than keeping California competitive in an iconic industry, it’s about the quality of life for regular California families. When filming goes out of state the strain on local families is immense.”
In 2014 Wilk was the Principal Co-author of the Film and Television Tax Credit which offered $330 million in tax credits annually as an incentive to keep qualifying productions here in California. The tax credit has brought billions of dollars and jobs back into the state.
Wilk is again taking a leadership role on this issue and is a Principal Co-author of SB 951 which extends the current sunset of the film production tax credit program from June 30, 2020 to June 30, 2025 and makes improvements to the current program.
Santa Clarita, home to many film and production related businesses, has seen first-hand the positive impact the 2014 tax credit had on its local economy. Twenty-five percent of qualifying productions are either based in Santa Clarita or are partially filmed there. Movie ranches in the area are now operating at capacity, and there are plans to build additional sound stages on the edge of Disney Ranch in Santa Clarita Valley which will bring 2800 jobs to the SCV.
“The Film and TV Tax Credit of 2014 has been wildly successful and proven to be a great investment for our state. The bipartisan support today for extending this program underscores the Legislature’s commitment to keeping California the rightful home of the film industry,” said Wilk. “It also demonstrates our interest in ensuring the families involved in the industry remain intact and are not worried about being torn apart because film and production companies leave the state again.”
Michael DeLorenzo, President of Santa Clarita Studios, added, “A day doesn’t go by without a crew member saying thanks because they are working at home and not in Atlanta. Our studio is 100% booked and growing. Our crew members are going home to their families at night rather than a hotel which is good for everyone. The Film and Television Tax Credit has made a huge difference in the lives of thousands of people.”
SB 951 will now go to the Assembly for consideration.
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