Governor Jerry Brown talked about the promise of California and played up the state’s economic comeback during a campaign fundraiser Thursday at Disney Studio boss Alan Horn’s Bel-Air home. A mostly industry crowd of about 100 including Robert Downey Jr. and Larry Flynt turned out for the 6:30-8:15 PM event, which was put on by a Hollywood political patrician guard. Co-hosts included Jeffrey Katzenberg, Warner Bros’ Barry Meyer and Kevin Tsujihara, Fox’s Jim Gianopulos, Universal’s Ron Meyer, Paramount’s Brad Grey, Sony’s Michael Lynton and MPAA chief Chris Dodd as well as Steven Spielberg and David Geffen, though Geffen didn’t attend. All of the co-hosts had pledged to raise $54,440 each for Brown’s re-election campaign next year. Tickets for the event went from $5,000 to mogul-level $27,200. Details are sketchy about the exact amount of money raised Thursday night, but a source tells me “it’s a nice chunk of change” with estimates around $2 million.
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Horn introduced Dodd, who in turn intro’d the governor. Amid his broad-strokes speech about California’s new multibillion-dollar budget surpluses and such, one topic Brown didn’t bring up was the status or future of the state’s film and TV tax credits program. The latest two-year extension of California’s current $100 million annual lottery program is set to expire next year, and talk of more money and great stability for the program is in the air to increase production in the home of Hollywood. Introduced in 2009 to help halt runaway production, the program was extended by Brown in late September 2012 and will run until July 2017. Despite the state’s coffers now overflowing after years of crushing deficits, Brown on Thursday cautioned against new expenditures and advocated putting the increased revenues away in a rainy-day fund.
While Brown hasn’t formally declared that he is running for another term, there is no doubt that the past and current governor wants one more swing of the Sacramento bat — and with California’s finances in order for the first time in years, he looks like a shoo-in. The governor was the recipient of big bucks from Hollywood in his successful 2010 campaign to return to running the state after a 26-year break.
His re-election is a year away and as much of a sure thing as anything can be in politics but Hollywood moguls unsurprisingly are already opening up their check books for Jerry Brown now. A $1,000 to $27,200 … Read More »
UPDATE, 5:22 PM: The lottery is over and 28 projects were selected today for this year’s California’s $100 million Film and TV tax credit program. That’s even with the 28 projects that were initially approved on June 1, 2012 in last year’s lottery. The doors closed Monday at 3 PM at the Film Commission’s office on Hollywood Boulevard with the last few applicants getting their submissions in under the wire. Soon afterwards, the random picking process began. A total of 380 projects were submitted between 9 AM and 3 PM today before the deadline. That’s a record for the program since it was introduced in 2009. The previous high was the 322 projects submitted last year for 2012’s $100 million allocation. A Deputy State Fire Marshal actually picked tickets out of a cylinder built for just such a lottery purpose. Each ticket had an allocated number on it that each submitted project was given Monday. All the remaining projects will now go on a waiting list in case approved film or TV projects drop out or have production or scheduling delays and lose their place and credits. Though 28 projects were first approved last year, the total figure that actually received tax credits actually ended up being 75. Today’s approved figure could also change as the Commission conducts a more thorough review of the projects. This year’s initial successful applicants will be contacted tomorrow. A full list of the features, miniseries, MOWs and TV series that were awarded a portion of this year’s $100 million and how much they received is expected Tuesday afternoon. Keep your fingers crossed Hollywood.
Related: Governor OKs $100M Film-TV Tax Credit Until 2017
PREVIOUSLY, 2:05 PM: There’s less than an hour left if you want to take a chance at getting a piece of this year’s $100 million California film and TV tax credit program. The state Film Commission is accepting applications until 3 PM PT at its Hollywood Boulevard offices for this year’s lottery, and then Lady Luck works her magic. “At 3 PM we’ll close the door so that we can conduct our lottery with assistance from the Deputy State Fire Marshal” who adds another layer of transparency to the process, Film Commission executive director Amy Lemisch told me today. “The lottery ensures credits are distributed fairly”. Once the $100 million is used up, remaining projects that didn’t receive funding will be put on a waiting list. That list isn’t quite the purgatory one might think: If already-approved projects drop off due to scheduling or production delays, those on the list will take their place and credits. Last year, 28 projects initially won a piece of the up-to-25% tax credit program. Read More »
Gov. Jerry Brown signed a bill late last night that adds one year to the California Film & Television Tax Credit Program. Assembly Bill 1069 had been pared down from its original language that sought a five-year extension. … Read More »
Passing legislation in the California Legislature is always tedious what with all-night marathon sessions and hundreds of bills in a rush to pass before lawmakers adjourn for the year. So it was semi-miraculous that the tax breaks for California film and TV production received the … Read More »
A study of the impact of California’s Film and Television Tax Credit program shows that it has generated more than $3.8 billion in economic output and supported 20,040 jobs — good for labor income of $1.4 billion — in the … Read More »