California to boost tax credit for filmmakers

California Governor Jerry Brown speaks during a news conference in San Francisco, on January 17, 2014California is set to more than triple its tax credits granted to the film industry in a bid to limit an exodus of movie makers from Hollywood tempted by more generous aid. Governor Jerry Brown said he is set to sign an accord passed by the western US state’s lawmakers, who voted to grant $330 million per year for five years, or a total of $1.65 billion. Previously, tax credits for films were limited to $100 million a year. “This law will … put thousands of Californians to work,” Brown said in a statement, which noted that over the last 15 years film production has plummeted by 50 percent in California.

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