Berman Sponsors Film Tax Credit BillThursday, May 17, 2012
Congressman Howard Berman has co-sponsored a bill to extend a federal tax credit program aimed at keeping film production in the U.S.
If approved, the program, known as Section 181, provides a tax break on the first $15 million spent on film production. To qualify for the incentive, 75 percent of a film must be made in the U.S.
“Entertainment jobs support middle class families in the San Fernando Valley, throughout Los Angeles, and across the nation, and should not be exported abroad,” said Berman in a prepared statement. Berman’s district includes parts of the San Fernando Valley.
Joining Berman in extending Section 181 is David Dreier, a Republican from the San Gabriel Valley.
The tax program was first passed as part of the American Jobs Creation Act in 2004 and extended in 2008 and 2010.
Mark R. Madler