The Daily Journal interviewed Manatt's Lindsay Conner, co-chair of the firm's Entertainment and Media practice, for an article on the key 2014 film financing developments and what to expect in 2015.
As reported by the Daily Journal, Gov. Jerry Brown recently signed into law AB1839, the Film and Television Job Creation and Retention Act, California's response to rapidly growing film tax incentives in states like Louisiana and New York. The law more than triples the current $100 million in annual motion picture tax credits, calling for $330 million in annual tax breaks over the next five years.
Motion picture dealmakers say tax credits are now part of almost any film budget. "It's hard to get a movie made without including tax subsidies in the budget," said Conner.