A $100 million annual tax break for California motion picture companies was extended by newly signed legislation Sunday.
Gov. Jerry Brown signed the measure, Assembly Bill 2026, by Democratic Assemblyman Felipe Fuentes of Sylmar.
The program of tax credits initially was signed into law in 2009 by then-Gov. Arnold Schwarzenegger. Fuentes' measure would extend the program for two additional years -- from July 2015 to July 2017.
Of $400 million in tax credits that has been available thus far through the program, only $229,139 has been claimed, though that figure could rise because credits can only be claimed once production and auditing is completed.
The tax concession targets major motion picture projects in which 75 percent of the shooting days take place in California or 75 percent of its production budget pays for services, purchases or property rental in the state.
AB 2026 is meant to persuade California's motion picture industry, which has made Hollywood famous, not to relocate.
Forty states offer financial incentives to the industry, as do Canada, Australia and much of Europe, according to a legislative analysis of AB 2026.