The California Film Commission will begin accepting applications June 1 for the next $100 million round of funding provided by the state’s two-year-old Film & Television Tax Credit Program.
The commission said Wednesday it was encouraging those seeking credits to prepare in advance and submit on the first day given overwhelming demand.
“The Tax Credit Program has proved to be very popular, and we want to ensure that every qualified project has an equal chance to benefit,” said commission exec director Amy Lemisch.
More than 100 productions have taken part in the program including “No Strings Attached,” “Faster” and “The Social Network,” the TV series “Justified” and the upcoming “The Muppet Movie.”
The panel noted that eligible projects submitting an application after June 1 increase the likelihood of being placed on a waiting list.
“The tax credit program is our best tool for keeping California competitive,” Lemisch said. “Projects approved since the program went into effect are responsible for $2.2 billion in direct spending within the state, including $736 million in wages paid to ‘below-the-line’ crew members.”
The state’s five-year program covers 20% of below-the-line expenses for productions of up to $75 million. It can be sweetened to 25% of expenses for indie feature productions of up to $10 million — and for all existing TV shows that relocate to California.
The Golden State’s program, approved early last year, is significantly smaller and not as sweet as many others. But state officials have contended that the presence of Hollywood’s existing infrastructure and the desire to stay close to home has the potential to reverse more than a decade of runaway production.