Film tax credit bill makes progress

A bill that would extend the state’s film and television tax credit program is headed to the Assembly Appropriations Committee after having unanimously passed the Assembly Revenue and Taxation Committee.

The measure, AB 2026, was introduced by Assemblyman Felipe Fuentes (D-Sylmar) and co-sponsored by several lawmakers, including Assemblyman Mike Gatto (D-Silver Lake).

Fuentes is chairman of the Appropriations Committee.

The legislation would extend the tax credit for five years and provide $100 million in credits annually.

Currently, the last tax credits will be authorized in July 2013.

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