CA AB1199

Expands the definition of music-related expenditures eligible for additional motion picture tax credits to include "qualified music preparation, music scoring, music track recording, and music editing" where at least 75% or a minimum of $100,000 of total expenditures occurs in California.

Allows an additional 5% tax credit for qualifying music activities (previously limited to "music scoring and music track recording by musicians") for motion pictures whose base credit percentage is determined under specified provisions.

Applies changes to both personal income tax (Section 17053.95) and corporation tax (Section 23695) provisions governing motion picture tax credits for taxable years beginning January 1, 2016 through July 1, 2020.

Requires a two-thirds vote in both houses of the Legislature because the bill results in taxpayers paying higher taxes under Article XIII A of the California Constitution.

Takes effect immediately as a tax levy.