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Home » Will New York Suffer as Rallies in Sacramento Show Cal Tax Credit Momentum?

Will New York Suffer as Rallies in Sacramento Show Cal Tax Credit Momentum?

Variety is reporting that unions and other below the line  film and TV workers have rallied with Hollywood actors in support of a plan for increased tax incentives to keep movies and TV production in California.

The rally, a two-hour event attended by more than 300 Hollywood actors and union trade workers, demonstrated in favor of California Assembly Bill 1839. The bill’s tax incentive program is making its way to the Senate floor for a final bill reckoning.  The bill’s tax credit abatement will jump from $100 million a year to $400 million a year, which just happens to be close to $420 million a year, the amount New York has put in place for its own incentives, widely seen as successful. The Cal state credit will also, for the first time, run for multiple years – just like the New York measure – which producers like for long-term planning.

The California bill will also end its lottery system, which had been used to more equitably distribute the limited $100 million credit. However Gov. Jerry Brown, who has staked his reputation on balancing the state’s budget and ridding it of debt, still must sign the measure.

Do film and TV tax credits really offer much more benefit than offer tax payer money to large corporations and film and television investment funds? That’s not a very simple question to answer, but there have been enough analysts who see the tax credits as giveaways that cash-strapped economies can’t really afford.

The New York bill has been given credit for helping the state and especially the city boost feature film and TV production to its highest levels in the modern era. Thousands of jobs have been created and billions of dollars spent in the tri-state area over the past decade that the expanded credits have been in place. Besides New York, many other states as well as foreign countries have been battling for these same film and TV jobs with increased incentives of their own. It’s unclear if California can expect all of its lost jobs to return.

You can read the full article by Variety film reporter Dave McNary by clicking here.

 

About Dan Ochiva

New York City-based journalist and NYCPPNEWS founder Dan Ochiva writes and consults on film, video, and digital media technology.

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How Sony’s New Virtual Sound Technology Can Change How We Hear Films

Kami Asgar and Jessica Parks are post-production heavyweights who work with major studios, namely Sony. As a sound designer (Asgar) and as a post executive (Parks), their collective resume touches on everything from Apocalypto to Grandma’s Boy to Venom.

Parks has recently shifted her focus from supervisor to hands-on sound design, and we talk about how it’s never too late to pivot on your career path and find the thing you love doing wherever you are in life.

Click on this link to read the rest of the article on No Film School’s site.

U.K. Extends COVID Insurance Scheme; Distributes $21 Million in Cinema Grants

The U.K.’s insurance scheme for film and television has been extended until April.

Known as the Film and TV Production Restart Scheme, the groundbreaking £500 million ($676 million) fund assures productions that they’ll receive financial support in case of COVID-related losses. The program has so far accepted 100 qualifying productions.

To read the full article in Variety, click on this link. 

Film Commish announces date for production restart

In her December 18, 2020 news update, MOME Commissioner Anne del Castillo announced that the Film Office is now accepting permit applications for production activity that begins on July 27th.

She also announced awards now (Awkwafina) and more. To read all of the Film Commish’s bloggy sort of news column, click here.

Stimulus Offers $15 Billion in Relief for Struggling Arts Venues

The coronavirus relief package that Congressional leaders agreed to this week includes grant money that many small proprietors described as a last hope for survival.

For the music venue owners, theater producers and cultural institutions that have suffered through the pandemic with no business, the coronavirus relief package that Congress passed on Monday night offers the prospect of aid at last.

To read the full article on The New York Times’ site, click here.

If you want to start production, here’s the latest news from the Mayor’s Office

Phase 4 production guidance is available on the Film Permit website. All production activity, whether it requires a Film Permit or not, must comply with New York Forward Industry Guidance.

For more information see, please refer to the State Department of Health’s Interim Guidance for Media Production During the COVID-19 Public Health Emergency. Please review the guidelines and FAQ before submitting permit applications. The Film Office is operating remotely, so please allow additional time for Film Permit processing.

The above paragraphs contain links to the various FAQ – just mouse over the relevant words.

Nikon to Stop Making Cameras in Japan

Nikon has fallen on hard times as of late as its camera sales have cratered, and now there’s a new indicator of how dire its financial situation is: the company is reportedly pulling the plug on making cameras in Japan after over 70 years of doing so.

To read the full article on Petapixel’s site, click here.

NVIDIA Uses AI to Slash Bandwidth on Video Calls

NVIDIA Research has invented a way to use AI to dramatically reduce video call bandwidth while simultaneously improving quality

What the researchers have achieved has remarkable results: by replacing the traditional h.264 video codec with a neural network, they have managed to reduce the required bandwidth for a video call by an order of magnitude. In one example, the required data rate fell from 97.28 KB/frame to a measly 0.1165 KB/frame – a reduction to 0.1% of required bandwidth.

To read the rest of this article on Petapixel, click this link.

 

 

 

Union Health Plan Dodges Film Workers’ Suit Over Virus Relief

Law360 (October 9, 2020, 5:22 PM EDT) — The Motion Picture Industry Health Plan’s board can’t be sued under ERISA for allegedly flouting its duties when it relaxed plan rules in response to COVID-19, a California federal judge has ruled, nixing a proposed class action filed by two cinematographers who still couldn’t qualify for benefits.

In an order entered Thursday, U.S. District Judge R. Gary Klausner granted the board of directors’ motion to dismiss Greg Endries and Dee Nichols’ Employee Retirement Income Security Act suit accusing board members of breaching their duty to treat all plan participants fairly.

Endries and Nichols, members of Local 600 of the International Cinematographers Guild, said in July that the board left them and others “out in the cold” in its attempts to address the problems COVID-19 caused for plan participants.

But Judge Klausner agreed with the board’s contention that the case, which alleged a fiduciary breach, should be tossed because plan administrators don’t act as fiduciaries when they amend health care plans.

Read the full article on the Law360 site by clicking here.

Russo Brothers Received Close to $50 Million From Saudi Bank

Anthony Russo and Joseph Russo photographed at the PMC Studio in Los Angeles for the Variety Playback Podcast.

The Russo brothers, directors of the all-time top grossing film “Avengers: Endgame,” quietly secured a roughly $50 million cash infusion for their production company AGBO from Saudi Arabia earlier this year, multiple sources tell Variety.

In a deal brokered and closed at the beginning of the pandemic, the Russos received the investment from an undisclosed Saudi bank in exchange for a minority stake in the brothers’ Los Angeles-based shop.

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