California Legislature Passes Bill to Address Catch in $750 Million Tax Credit for Hollywood The California state legislature's hasty passage of SB 186 is a Band Aid on a bullet wound, aimed at salvaging a major tax credit program that was careening out of control.
The bill attempts to mitigate the impact of business tax credit caps on the state's $750 million annual film and television incentives program.
At first glance, this seems like a classic tale of Hollywood politics: powerful industry lobbyists muscle in on lawmakers, who then hastily cobble together legislation to address their concerns.