CA SB1167

Extends the California film tax credit program allocation period from July 1, 2020 to July 1, 2017, allowing the California Film Commission to allocate credits for two additional years under both Personal Income Tax Law and Corporation Tax Law.

Maintains the $100,000,000 annual cap on aggregate tax credit allocations through fiscal year 2016-17, with up to $10,000,000 annually set aside for independent films.

Requires the California Film Commission to annually post on its website and publicly release a table listing qualified taxpayers, allocated tax credit amounts, production days in California, expected California jobs, and qualified expenditures.

Directs the Legislative Analyst's Office to prepare reports by January 1, 2016 evaluating the economic effects and administration of the film tax credits, with authority for state agencies to disclose specified taxpayer information for this purpose.

Authorizes qualified taxpayers to sell film tax credits attributable to independent films to unrelated parties and requires reporting of credit assignments and sales to the Franchise Tax Board.