Cal. Code Regs. tit. 10 § 5504

Current through Register 2024 Notice Reg. No. 45, November 8, 2024

Section 5504 - Tax Credit Allocation

(a) The amount of tax credit allocated shall be based on the percentage of the qualified expenditures as provided in sections 17053.85(a) and 23685(a) of the Revenue and Taxation Code.

(b) If all tax credits have been allocated for the fiscal year, Qualified Motion Pictures shall be placed in the queue in the order their applications were received until either: credits become available that fiscal year, the production elects to be removed from the queue, or until the end of the fiscal year.

(c) Ten million dollars ($10,000,000.00) in tax credits shall be reserved for allocation to Independent Films per fiscal year.

Cal. Code Regs. Tit. 10, § 5504

1. New section filed 5-29-2009 as an emergency; operative 5-29-2009 (Register 2009, No. 22). A Certificate of Compliance must be transmitted to OAL by 11-25-2009 or emergency language will be repealed by operation of law on the following day.
2. Editorial correction of HISTORY 1 (Register 2009, No. 47).
3. New section refiled 11-19-2009; operative 11-19-2009 (Register 2009, No. 47). A Certificate of Compliance must be transmitted to OAL by 2-17-2010 or emergency language will be repealed by operation of law on the following day.
4. Certificate of Compliance as to 11-19-2009 order transmitted to OAL 2-3-2010; disapproved by OAL on 3-18-2010 and order of repeal as to 11-19-2009 order filed on 3-19-2010 (Register 2010, No. 12).
5. New section refiled 3-18-2010 as an emergency; operative 3-18-2010 (Register 2010, No. 12). A Certificate of Compliance must be transmitted to OAL by 6-16-2010 or emergency language will be repealed by operation of law on the following day.
6. Certificate of Compliance as to 3-18-2010 order transmitted to OAL 4-15-2010 and filed 5-19-2010 (Register 2010, No. 21).

Note: Authority cited: Sections 17053.85(e) and 23685(e), Revenue and Taxation Code; and Section 11152, Government Code. Reference: Sections 17053.85 and 23685, Revenue and Taxation Code.

1. New section filed 5-29-2009 as an emergency; operative 5-29-2009 (Register 2009, No. 22). A Certificate of Compliance must be transmitted to OAL by 11-25-2009 or emergency language will be repealed by operation of law on the following day.
2. Editorial correction ofHistory 1 (Register 2009, No. 47).
3. New section refiled 11-19-2009; operative 11-19-2009 (Register 2009, No. 47). A Certificate of Compliance must be transmitted to OAL by 2-17-2010 or emergency language will be repealed by operation of law on the following day.
4. Certificate of Compliance as to 11-19-2009 order transmitted to OAL 2-3-2010; disapproved by OAL on 3-18-2010 and order of repeal as to 11-19-2009 order filed on 3-19-2010 (Register 2010, No. 12).
5. New section refiled 3-18-2010 as an emergency; operative 3-18-2010 (Register 2010, No. 12). A Certificate of Compliance must be transmitted to OAL by 6-16-2010 or emergency language will be repealed by operation of law on the following day.
6. Certificate of Compliance as to 3-18-2010 order transmitted to OAL 4-15-2010 and filed 5-19-2010 (Register 2010, No. 21).