Filmmakers hoping for extra funding from the state of California will soon find out their fate.
The California Film Commission hosts its lottery for $100 million in film and TV tax credits Friday, and the 3 p.m. deadline for applications has now passed.
Each application is assigned a lottery number, which an officer picks out, assigning each project a spot in the queue. The better the number, the earlier the Commission will review your application.
If your application passes all restrictions and guidelines, you get a tax credit. Those applicants later in the queue will be put on a waiting list. Those who applied after the 3 p.m. deadline will also go on the waiting list.
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The commission has reserved $10 million for films with budgets between $1 million and $10 million. Those projects are eligible for a 25 percent credit, as are existing TV series that filmed prior seasons outside of the state.
Film projects with budgets up to $75 million can secure up to a 20 percent credit. The same goes for TV movies and miniseries with a budget greater than $500,000 and a new TV series licensed for distribution on basic cable with a minimum budget of $1 million.
The commission will release more detailed information about the projects selected on Monday.