Paramount feature “Genies,” also known as “Children of the Lamp,” has also been selected for a $7.4 million credit from the California Film Tax Credit program for the 2014-15 fiscal year after moving off the waiting list. To receive the credit, production must start in California within 180 days of notification from the state.
Two studio movies that had been slated to receive allocations have been dropped from the program — New Line’s comedy “Mean Moms,” which had been in line for a $6.7 million credit, and Fox’s Beach Boys biopic “All Summer Long,” which had been set to receive a $7.7 million credit.
It’s not uncommon for waiting-list projects to wind up with the credit, which provides up to 25% of qualified expenditures. The 2013 cancellation of “Bunheads” freed up credits for seven other California projects, including “Sam and the White Tiger,” “Perfect Heist,” “Xoxo” and “Straight Outta Compton.”
The moves come with state’s program — which provides $100 million in tax credits to projects shot in California — in line to be tripled in size, thanks to the passage of Assembly Bill 1819, which Gov. Jerry Brown signed into law in September.
The legislation increases the annual allocation of state tax credits to $330 million per year, more than triple the current amount, starting with fiscal year 2015-16 and lasting for five years. It will expand the eligibility to include big-budget feature films and new one-hour drama series.
The state used a lottery in June to select 26 projects for the program out of a total of 497 applications. “Teen Wolf” led the list with an $11.5 million credit; 11 other continuing series took the lion’s share of another $66 million in allocations.
The new legislation also reworks the way that credits are allocated by use of a scoring system, based on applicants’ abilities to employ a significant number of workers. Under the present lottery, credits were awarded by chance.
“The Farm” has a $7.32 million reservation for credits with $59.9 million in qualified expenditures. It’s set on one of the last great family-owned farms in the Midwest, where a father tries to shield those closest to him from a long-buried evil that has taken control of his only daughter. Brandon Camp is the writer and producer; exec producers are Dawn Olmstead, Michael Bay, Andrew Form and Brad Fuller; it’s produced by Grady Girl Productions and Platinum Dunes in association with Warner Horizon Television.
“Agent X” has a $5.3 million credit on $34.6 million of qualified expenditures. TNT gave a series order in October to the secret agent action-drama starring Jeff Hephner, Sharon Stone and Gerald McRaney, with a pilot penned by “The Bourne Identity’s” William Blake Herron.
The project is being produced by TNT Originals in association with Beacon Pictures, with Armyan Bernstein and Stone serving as executive producers. Herron will also exec produce.
Paramount’s “Genies” is produced by Nina Jacobson’s Color Force and is based on the series of books by P.B. Kerr in which a family of genies finds a way to disguise themselves as humans yet continue to grant wishes.
“Mean Moms,” which has had Jennifer Aniston attached to star, has been eligible for the credit twice. New Line announced last year it had pulled the comedy from its 2015 release date — and opted to forgo a $6.7 million production tax credit for a $33 million budget.