Tax Breaks For California, Too?
California Gov. Arnold Schwarzenegger will make another attempt at persuading the California legislature to grant tax breaks to film and TV companies like those offered by other states to lure productions away from Hollywood, the Los Angeles Times re ported today (Tuesday), saying that it had obtained a copy of the proposal. The tax credits could cost the state as much as $100 million a year, the Times observed, and comes at a time when the state faces a $10-billion budget shortfall. In an effort to silence critics who call the proposal a giveaway, the governor's new proposal would grant the tax breaks only to new TV shows and those relocating to California from elsewhere. Shows that are already shooting in California 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."