ANNOUNCEMENT 30 Jun 2017
A movie received tax credits from the state of California in the financial year 2016-2017.
NUMBER OF INTERVENTIONS
In 2014 the state of California enacted a law (AB 1839) increasing the level of state subsidies to the motion picture industry to $330 million annually over five years, beginning in 2015. Another bill enacted in 2018 (SB 871) continued the $330 million annual subsidy through 2025.
One of the productions that benefited from this subsidy was the movie “A Wrinkle in Time,” for which Tesseract Productions, Inc. received $18,154,000 in tax credits in the financial year 2016-2017 (1 July 2016 to 30 June 2017).