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FILM TAX BREAKS INCLUDED IN BAIL-OUT BILL
Nikki Finke points to this Los Angeles Times piece that reveals that pro-movie biz breaks are included in the bail-out bill that just passed the Senate and which is headed for the house. Specifically, the bill extends the film production cost deduction included in the 2004 Jobs Creation Act to December, 2009, and it lifts the budget cap on eligible films. Now, instead of being limited to films budgeted at up to $15 million, the deduction is capped at $15 million for any single film no matter what the budget.
