News Summary

• State lawmakers have officially introduced a bill meant to allow studios a few key exemptions from a recently enacted restriction on corporate tax credits.
• AB136, introduced Friday evening, addresses concerns raised from stakeholders including the Motion Picture Association.
• A vote on AB136 is likely to come Monday evening, hours before the midnight end to the legislative session.
• The state budget, passed this summer, seeks to stabilize revenue by preventing corporations from offsetting more than $5 million in tax liability annually for the next three years.