ANNOUNCEMENT 30 Jun 2021
The Relocating TV Series titled “Star Trek Picard 3” is approved to receive a tax credit in the 2020-2021 fiscal year under the Film and Television Tax Credit Program 3.0.
NUMBER OF INTERVENTIONS
State of California, California Film Commission, “Film and Television Tax Credit Program 3.0 - Alphabetical Listing of Approved Projects”. Available at: https://cdn.film.ca.gov/wp-content/uploads/2021/03/3-0-CFC-Approved-Projects-List.pdf
In October 2021, the California Film Commission (CFC) announced that CBS Studios Inc with the production titled “Star Trek Picard 3” was approved to receive a tax credit of USD 20.6 million in the 2020-2021 fiscal year under the Film and Television Tax Credit Program 3.0. CFC announced the approval of the project in its Film and Television Tax Credit Program 3.0 Approved Projects list. Given that the CFC didn't disclose the precise date the tax credit was granted, the most conservative date, i.e., 30 June 2021, was set as the inception date.
Launched on 1 July 2020, the Film and Television Tax Credit Program 3.0 is a USD 1.55 billion program that will run for five years with an annual budget of USD 330 million (see related state act). The program is administered by CFC which is housed under the Governor’s Office of Business and Economic Development. The tax credit is provided to Relocating Television Series, Independent Films, Feature Films, New or Recurring Television Series, Television Pilots and Movies-of-the-Week and Miniseries. Eligible projects can receive up to 25% tax credit on their qualified spending.