AB 2403: Income tax: credits: commercial production.

<p>The bill proposes adding sections to California's Revenue and Taxation Code, allowing a credit against personal income tax and corporation tax for qualified taxpayers producing commercials in the state. The credit amounts to 20% or 30% of production costs over $500,000, effective from January 1, 2027, through December 31, 2031. It excludes commercials created entirely by generative AI or those using technologies that replace human jobs in production. The bill requires adherence to labor standards and mandates the California Film Commission to establish an annual application process for these credits, with a yearly cap of $15 million. Additionally, it includes provisions for data collection and performance indicators, and specifies no state-mandated local program reimbursement is required.</p>