GOOD NEWS FOR NEW YORK FILMMAKERS
For those worried about the announcement a few weeks back that New York ran out of money for its successful film tax rebate program, here’s an email from Pat Kaufman that arrived in my inbox this morning:
The legislature has approved the Governor’s recommended expansion of the film credit!!
We are pleased to confirm that funding for the NY State’s Production tax credit has been expanded and extended through 2011.
New York State will continue to offer a fully refundable tax credit of 10% of the below the line budget of qualified feature films, episodic television and pilots. The city will again be given the option of joining the program and providing a matching 5% credit as before.
We at the New York State Governor’s Office for Motion Picture and Television Development look forward to working with you on your projects. New York is better than ever. We know you want to be here and you can be.
Pat Swinney Kaufman
NY State Governor’s Office For
Motion Picture and Television Development
So, the 10% state rebate seems intact and I guess we’ll wait to see if the city confirms their further participation.