California to boost tax credit for filmmakers

August 28, 2014 3:25 AM

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California to boost tax credit for filmmakers

LOS ANGELES: California is set to more than triple its tax credits granted to the film industry in a bid to limit an exodus of movie makers from Hollywood tempted by more generous aid.

Governor Jerry Brown said he is set to sign an accord passed by the western US state's lawmakers, who voted to grant US$330 million (S$411 million) per year for five years, or a total of US$1.65 billion. Previously, tax credits for films were limited to US$100 million a year.

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