CA AB1915

Authorizes a tax credit under both the Personal Income Tax Law and Corporation Tax Law for taxable years beginning January 1, 2010, equal to a percentage of qualified expenditures for music recording production in California.

Defines "qualified expenditures" as amounts paid for tangible personal property used in-state for music production and payments for services performed in-state during the production process.

Requires "qualified music recordings" to be made in California, in whole or in part, by a music recording production company for public distribution with a minimum production budget (amount not specified in bill text).

Allows unused credits to carry over to subsequent taxable years until exhausted, and prevents taxpayers from claiming deductions for expenses that qualify for the credit.

Takes effect immediately as a tax levy.