Bloomberg Tax
Aug. 30, 2020, 11:31 PMUpdated: Aug. 31, 2020, 12:53 AM

Union-Backed California Bill Offers New Film and TV Tax Break (1)

Laura Mahoney
Laura Mahoney
Staff Correspondent

Labor unions in the entertainment industry are backing a last-minute California bill that would offer an unusual tax credit to companies if they build new media production facilities with union labor and create thousands of jobs.

S.B. 51 by Sen. Elena Durazo (D), could benefit Netflix Inc., Comcast Corp.'s NBC Universal, AT&T’s Warner Brothers LLC, Sony Pictures Entertainment Inc., or other production companies with a large California presence. The bill was introduced Aug. 28 and passed the Assembly Revenue and Taxation Committee Aug. 30. It must win votes from the Assembly Appropriations Committee, full Assembly, and full Senate before lawmakers ...

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