DSP Takes Capitol Steps
The Downtown Sacramento Partnership advocates for its members’ interests at the city, county, state, and federal level.
The Partnership issued statements in support of two measures at the state capitol that will help foster a prosperous downtown.
DSP supported the Economic Development and State Historic Tax Credit Act (AB 1999), which provides a state income tax credit for rehabilitating designated historic structures. DSP’s boundaries house a large number of historic parcels and areas, including Old Sacramento. Maintaining or redeveloping these parcels while preserving their historic integrity is often very costly. This credit would make it easier for those projects to move forward, resulting in economic development, additional jobs, and property taxes.
At the behest of the Sacramento Convention & Visitors Bureau, DSP also supported the California Film & Television Job Retention & Promotion Act (AB 1839), which would offer a more robust tax credit for in-state TV and film production. This marquee and homegrown industry has been decimated in the big budget picture era by more aggressive credits offered by other states, resulting in substantial losses of high-wage jobs.
DSP took up the mantle because films in production here mean an significant number of overnight stays for our hospitality industry, often in the 1,000s per picture. In addition, the film and TV production is populated by the high-skilled, high-wage creative jobs that we are seeking to recruit and that are necessary to Sacramento’s long-term health.
Both of these bills have moved through the Assembly and are awaiting action in the Senate.