Venezuela has the largest proven oil reserves in the world. It was once so rich that Concorde used to fly from Caracas to Paris. But in the last three years its economy has collapsed. Hunger has gripped the nation for years. Now, it’s killing people and animals that are dying of starvation. The Venezuelan government knows, but won’t admit it!!! Four in five Venezuelans live in poverty. People queue for hours to buy food. Much of the time they go without. People are also dying from a lack of medicines. Inflation is at 82,766% and there are warnings it could exceed one million per cent by the end of this year. Venezuelans are trying to get out. The UN says 2.3 million people have fled the country - 7% of the population.

Wednesday, February 9, 2011

Industry News: Feb 2011 PRODUCTION INCENTIVES UPDATE

February 1, 2011

PRODUCTION INCENTIVES UPDATE

ARIZONA

Legislation has been introduced to create a new refundable tax of 20% for films, television and multimedia, plus an additional 5% if certain production facilities are used. Minimum spend is $250,000, with a maximum of $15 million per project. $70 million will be available per year, with $10 million reserved for infrastructure credits, and $4 million for commercials. The legislation sunsets in 2040.

NEW MEXICO

Legislation aimed at wiping out tax incentives was tabled on 1/27/11 by the NM House Labor and Human Resources Committee. This effectively kills the bill, but it has no effect on the Governor's attempts to reduce the incentive to 15%. However, no legislation has been introduced to reduce the current 25% incentive.

WASHINGTON STATE

Legislation has been introduced to extend the Washington State film program to 2017. In addition, the annual cap would be increased to $7 million for 2011, increasing by $1 million per year until it hits $10 million in 2014. The incentive for episodic series would increase from 30% to 35% of the Washington spend.

NEW LEGISLATION

Montana, Utah and Mississippi are working to enhance their programs, a breath of fresh air considering what has been discussed in other states. However, just because a governor or legislator announces that he or she wants to shut down or curtail a program, as has happened recently, doesn't mean their attempt will be successful.

MISSOURI

A bipartisan committee has recommended terminating the Missouri film incentives program, and in a recent budget proposal the Governor recommended eliminating funding for the Missouri Film Office. However, legislation would need to be passed to eliminate the program.

SAN FRANCISCO

A new incentives program in SF provides free bottles of wine, free admission to local attractions and hotel discounts. Productions may apply for a discount card.


A.
www.chicas-productions.com
Posted by Essentials by APA at 12:10 AM
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