The Daily Journal interviewed Manatt's Lindsay Conner, co-chair of the firm's Entertainment and Media practice, for an article on why California's year-old Film and Television Tax Credit Program is receiving mixed reviews.
The Daily Journal reports that the bill increased subsidy funding; expanded eligibility to include big-budget features, one-hour television series and TV pilots; and replaced the lottery selection system. Industry insiders have lauded a boost in in-state production and job creation, but are concerned that the funds are not going to the projects that need them most.
Conner told the publication that the complaints aren't about the credits themselves, but the new competition from high budget projects that weren't previously eligible.
"Tax incentives are sort of the new equity in our business," Conner said. "It's not easy to get a film made today, even a studio film, without a dose of tax incentive financing."