Courtesy of Media Services, April, 2012:
A bill has been proposed in the California Assembly to extend the current film & TV tax credit in the state through 2018. The original tax credit was created in 2009 and is set to expire in July 2013. While the $100 million annual budget and 20-25% credit are considered modest in film incentive terms - consider New York's 30% state film tax credit, funded by over $400 million per year - the California credit is viewed as a pivotal factor in a windfall in film production and thousands of production jobs created in the state since the program was initiated.
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