California to quadruple movie tax credits to $400 million/year

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tax credits

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Not an honest appellation.

cali is scared of swampwoods take over

That's the thing about corporate subsidies, it becomes a race to the bottom to see who's the most desparate.

Looks like Jindal is going to have to up the ante and just finance 100% of the production company's operations now.

I'm waiting for IB's California doppelganger to show and tell us how bad a deal this for California.

There is still some doubt as to whether Governor Brown will sign the bill.

Isn't interesting one of the most liberal Governors in the country is more concerned about taxpayer dollars than Jindal?

Also it is not clear as to if the credits are redeemable for cash or transferrable.

Notice too that at least California has a cap on the credits. Louisiana's credits are unlimited.

The $400 million represents 1/2 of one percent of the personal and corporate income taxes in California. The $300 million Louisiana will likely spend this year is 10.6% of all our income and corporate taxes in 2013.

It is so stupid for Louisiana to be doing this that any legislator that supports it should be impeached for failing to honor his oath.