The California State Senate has passed Assembly Bill 2319—the postproduction tax credit bill—which now goes to Gov. Newsom’s deck, the Motion Picture Editors Guild (IATSE Local 700) reported to its members in an email on Sunday. MPEG and the California Post Alliance are co-sponsors of the bill, which was authored by Assemblymember Nick Schultz.
“We are pleased and grateful that the California State Senate has passed Assembly Bill 2319, the legislation to create a standalone post-production tax incentive in California. It sends a clear signal that California will remain the heart of the entertainment industry and that skilled, middle-class, union post-production jobs are valued in our state’s economy. Following concurrence, the bill will go to Governor Newsom’s desk, and we look forward to his signing it into law,” reads the statement from MPEG president F. Hudson Miller and national executive director Scott M. George.
Should Gov. Newsom sign AB 2319 into law, questions remain surrounding funding of the bill, which aims to incentivize projects to post in the State, even if they filmed elsewhere or were unable to qualify for the current tax incentive bill.
More to follow.