California motion picture tax credit.

The Personal Income Tax Law and the Corporation Tax Law allow various credits against the taxes imposed by those laws, including numerous motion picture credits. Most recently, existing law, for taxable years beginning on or after January 1, 2025, allows a motion picture credit (motion picture credit 4.0) to be allocated by the California Film Commission on or after July 1, 2025, and before July 1, 2030, in an amount equal to 35% or 40% of qualified expenditures for the production of a qualified motion picture in this state. This bill would make legislative findings and declarations relating to the need in California for tax incentives for postproduction performed in the state. The bill would state the intent of the Legislature to enact legislation that would establish a tax credit for postproduction activities.