TaxIncentive Tagged Articles at Cinematical
Governator's incentive bill unlikely to pass
Filed under: DIY/Filmmaking », Politics »
The
crystal ball over here at Cinematical Headquarters is on the fritz, but even without it, I'd be willing to bet that the
issue of runaway production will be to 2006 what The Slump was to 2005. Don't believe me? Then why is Governor Arnold
Schwarzenegger (yup - it still hurts) talking about resurrecting an already-proposed, already-unpopular bill that would
pump $100 million of state funds into keeping production from fleeing California? But according to the Hollywood
Reporter, he's unlikely to have much luck at it. Though the money for the program, unavailable in last year's budget,
now exists, there's a massive financial black hole on the horizon. When Schwarzenegger gives his State of the State
speech on Thursday night, he's expected to present a plan to overhaul both the state budget, and the entire California
infrastructure, at the possible cost of up to $50 billion. Pundits suspect that the production incentives will likely
get lost in that shuffle. It's interesting that Schwarzenegger would bother to resurrect the same old bill at all
– since protecting the local entertainment industry is vital to the state's economy on the whole, one would
imagine that the Governor would take it upon himself to incorporate that order of business into the state's massive
overhaul. But I suppose one would imagine a lot of things...
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