AB 1189, as introduced, Nazarian. Income taxes: credits: qualified motion pictures.
The Personal Income Tax Law and Corporation Tax Law authorize various credits against the taxes imposed by those laws, including a credit against those taxes for taxable years beginning on or after January 1, 2011, in an amount equal to a specified percentage of the qualified expenditures, as defined, attributable to the production of a qualified motion picture in California, or, where the qualified motion picture has relocated to California or is an independent film, as provided.
This bill would state the intent of the Legislature to enact legislation related to the tax credits for qualified motion pictures.
Vote: majority. Appropriation: no. Fiscal committee: no. State-mandated local program: no.
The people of the State of California do enact as follows:
It is the intent of the Legislature to enact
2legislation that would be related to the tax credits authorized under
3the Personal Income Tax Credit and the Corporation Tax Law for
4qualified motion pictures.
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