Tax Breaks For California, Too?
California Gov. Arnold Schwarzenegger will make another attempt atpersuading the California legislature to grant tax breaks to film and TVcompanies like those offered by other states to lure productions away fromHollywood, the Los Angeles Times re ported today (Tuesday), sayingthat it had obtained a copy of the proposal. The tax credits could cost thestate as much as $100 million a year, the Times observed, and comesat a time when the state faces a $10-billion budget shortfall. In an effortto silence critics who call the proposal a giveaway, the governor's newproposal would grant the tax breaks only to new TV shows and thoserelocating to California from elsewhere. Shows that are already shooting inCalifornia and unlikely to move would be excluded. But Lenny Goldberg,executive director of the California Tax Reform Association, told the Times , "I would be surprised if they could figure out how to do that."