Corporation Tax Law: credit: motion picture.

Senator Smallwood-Cuevas's legislation makes technical corrections to cross-references within California's motion picture tax credit program, ensuring proper alignment between various sections governing credit allocation and administration. The bill amends Section 23698.1 of the Revenue and Taxation Code to address erroneous citations in provisions related to the state's film and television production incentives.

The corrections maintain consistency in references between interconnected parts of the tax code that establish credit percentages, eligibility requirements, and allocation procedures for qualified motion picture productions. These technical amendments help ensure accurate implementation of existing program parameters, including the annual $330 million credit allocation cap and category-specific funding designations for independent films, television series, and other qualified productions.

While making no substantive policy changes, the bill's amendments support proper administration of diversity requirements, credit transfer provisions, and other core elements of California's film and television incentive framework. The technical corrections facilitate continued operation of the program through its current authorization period ending in fiscal year 2029-30.

The California Film Commission retains its existing authority to allocate and certify credits according to established criteria, with the bill's changes limited to ensuring accurate statutory cross-references between relevant code sections. These amendments help maintain clarity in the relationship between various provisions governing the motion picture credit program's implementation.