Hollywood lobbies for more corporate welfare.
Hollywood wants a $500-million blockbuster out of Sacramento.
In the final days of the legislative session, the industry is seeking a five-year extension of a tax credit for producing films and television shows in California. It has assembled a powerful coalition of moguls and unions, who argue that failing to re-up the program risks losing film jobs to states offering even more generous rebates.
That is something, advocates argue, that the state with the second-highest jobless rate in the nation cannot afford. “This is a proven program that creates jobs and stimulates the economy,” said Vans Stevenson, senior vice president of government affairs for the Motion Picture Assn. of America. “Our companies are all based in California, and we want to see the industry grow here.”
But California is also the state with the largest budget deficit, and opponents balk at reserving $500 million for industry incentives at a time when lawmakers are slashing social services, laying off teachers and raising tuition at public universities.
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