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Bloomberg signs tax credit into law

'Awake' awakens as result of the break

Gotham’s film and TV heavyweights’ efforts to pass a 5% tax credit on below-the-line production were rewarded Monday when Mayor Bloomberg signed the bill into law. A number of the bill’s biggest cheerleaders, “Law and Order” creator Dick Wolf, “Jonny Zero” exec producer Llewellyn Wells, Kaufman-Astoria’s Hal Rosenbluth, Silvercup’s Stuart Match Suna and Steiner’s Doug Steiner were on hand in the Blue Room at City Hall for the signing. All five, among others, attended a long hearing Dec. 1 to persuade City Council to pass the bill, which it did on Dec. 15.

GreeneStreet Films prexy John Penotti also announced that the feature “Awake” will be filmed in Gotham as a direct result of the tax credit. Locations in Dublin and London had even been scouted before the bill made New York financially feasible.

Indie pic is being co-produced through GreeneStreet Films and fellow Gotham shingle Deutsch Open City. Penned and helmed by Joby Harold, it stars Jared Leto.

Bloomberg remarked that the credit “will make New York more competitive and provide more jobs to professionals in this key economic sector. New York City is the greatest film set in the world, and this law will ensure that films that are set in New York City are actually shot here.”

The credit will apply to all productions shot 75% in Gotham and is paired with a 10% state tax credit that state legislators passed in August.