Opinion: The California Film Tax Credit Presents a Real Opportunity to Change Hollywood

Dominique Ulloa and Lori Condinus | Special to California Black Media

diversity, equity, inclusion and accessibility in hiring practices.

Version 4.0 of the California Film Tax Credit presents us with a fresh chance to make significant headway in this regard.

Previously, the industry operated mostly within the private sector, making it difficult for the state to evaluate compliance, progress, and enforce reporting requirements as it does with public sector jobs.

As industry insiders, advocates for change, and social justice activists, we are joining forces in this Op-Ed to shed light on the critical need to strengthen California's Film Tax Credit program through community and stakeholder participation and oversight.

Thankfully, Sen. Lola Smallwood-Cuevas (D-Los Angeles) and Assemblymember Tina McKinnor (D-Hawthorne) have been spearheading this effort in the Legislature, calling for a Film Tax program that reflects the diverse landscape of the California workforce.

The motion picture industry is grappling with a multitude of challenges, including strikes, COVID-19 disruptions, and fierce competition from other states offering enticing tax incentives.

To address these issues and support the ever-evolving industry, California plans to extend the $1.2 billion film tax credit for another five years. While we applaud the commitment of Gov. Gavin Newsom and the Legislature to retain jobs in our state, it is essential that we seize this opportunity to bring about real change for disadvantaged and underrepresented workers.

We can’t afford to settle for mere job retention or isolated success stories from underrepresented workers; this moment calls for us to strive for true accountability and inclusivity within the industry.

Looking to the future, the very essence of Hollywood as we know it may be at stake. Other states, including Texas, Georgia, Louisiana, New Jersey, and Missouri, have embraced film tax credit legislation, luring productions away from California.

According to McKinsey & Company's 2021 Study on Black representation in film and TV, addressing persistent racial inequities could unlock an additional $10 billion in annual revenues for the industry. This presents an incredible opportunity for California to not only lead by example in equitable representation, but also bolster our economy and help shield ourselves from recession.

Throughout history, the motion picture industry has lacked the necessary mechanisms to ensure

FTC and DOJ Propose Changes to HSR Form for More Effective, Efficient Merger Review

New form will implement congressional requirements and modernize information collection

The Federal Trade Commission, with the concurrence of the Assistant Attorney General of the Antitrust Division of the U.S. Department of Justice, is proposing changes to the premerger notification form and associated instructions, as well as the premerger notification rules implementing the HartScott-Rodino (HSR) Act.

The HSR Act and its implementing rules require the parties to certain mergers and acquisitions to submit premerger notification to the FTC and the Antitrust Division of the U.S. Department of Justice (the Agencies), which involves completing HSR Forms, and to wait a specified period of time before consummating their transaction.

The proposed changes to the HSR Form and instructions would enable the Agencies to more effectively and efficiently screen transactions for potential competition issues within the initial waiting period, which is typically 30 days. This initial competition review is critical for the agencies to identify transactions that require an in-depth investigation. During an in-depth investigation, the agencies determine whether the proposed transaction would violate the antitrust laws and, if so, to seek to block the proposed transaction and prevent harm to the American public.

Under Version 3.0 of the California Film Tax Credit, the implementation of a Diversity Requirement aimed to increase employment opportunities for underrepresented workers. Unfortunately, this program fell short due to its lack of meaningful reporting requirements, community and stakeholder participation, and institutional support.

Studios receiving the tax credit were allowed to devise their own diversity plans and benchmarks. We firmly believe we can change this by implementing a community- and other stakeholder-led film tax credit task force. This task force would be responsible for monitoring and evaluating the diversity plans of tax credit recipients, using certified payroll data to verify that the industry's efforts to promote diversity lead to tangible changes in its workforce demographics.

The task force would also provide productions with resources to help them implement these requirements through partnerships with nonprofits like Ujima Entertainment Coalition - a Black entertainment professionals staffing liaison, networking alliance, and advocacy group - as well as by offering guidance in using the ‘Inclusion Rider’ as a process for inclusive hiring.

As the state prepares for Version 4.0, let’s make sure that the creation of high-quality film and television content right here in Hollywood is an attainable goal for all aspiring creators, free from the confines of an antiquated ‘old Hollywood’ model that continues to perpetuate exclusion. We want to ensure that the real stakeholders—the workforce and community — are given a prominent seat at the table. We can’t sit on the sidelines as passive observers; we have to show up as active participants who hold the power to enact change. So today, we are using that power to demand community- and stakeholder-led oversight as part of California's Film Tax Credit Proposal.

As an editor, and the Founder of Ujima Entertainment Coalition, I, Dominique Ulloa, remain committed to advocating for a more inclusive and equitable television and film industry.

And, I, Lori Condinus, a labor leader and activist for over 30 years and the President of the National Action Network Los Angeles, have witnessed, firsthand, the amazing progress that is possible through labormanagement-community collaboration, and I look forward to a fruitful endeavor with the Legislature and the other motion picture industry stakeholders. Let’s seize this opportunity to shape the future of California's production landscape together.

About the Authors

Dominique Ulloa is a PeabodyAward winning editor and Founder of Ujima Entertainment Coalition.

Lori Condinus is the President of the National Action Network Los Angeles.

FTC and DOJ Propose Changes to HSR Form for More Effective, Efficient Merger Review...continued

One group of students fled community college in record numbers during the pandemic. Can these schools lure them back...continued from page 2 pandemic was really bad, but the second year, we rebounded,” she said. Arballo expects that the college has already reached prepandemic levels once the final numbers are tallied for the recent spring semester.

Moving quickly

Arballo attributed some of Mt. San Antonio’s success to her department putting together new classes and certificates quickly, such as a course on COVID-19 contact tracing that it offered for just a few months. Of the 103 students who enrolled in contact tracing courses in the 2021-22 academic year, 41% were over the age of 46, she wrote to CalMatters.

Instead of telling prospective students why they should go to college, she tries to tell students what they could earn or do after college: Contact tracers, for instance, were making $25 an hour at the time the class was running.

Even though these adult students often start out taking one or two quick, noncredit classes, they may end up working towards an associate’s degree, or even transferring to a four-year university, once they realize the earning potential of a bachelor’s degree, said Arballo.

Marcelo Baca, 62, started taking noncredit courses last year in an effort to get his GED, but he isn’t stopping there. He plans to graduate with an associate’s degree in business and then transfer to California State University Fullerton to ultimately become a financial advisor.

It’s not his first attempt at a degree. He immigrated from Argentina in 1989 to attend community college in Orange County, but he couldn’t afford it and dropped out. He became undocumented and despite living in the state for decades, he was ineligible for financial aid. When he was finally in a position to restart school, he said he was diagnosed with colon cancer, and later, sent to the ICU for complications due to COVID-19. Now he’s finally pursuing his dream, even if his children beat him to it.

“I may be super old, but I don’t care.”

Adam Echelman covers California’s community colleges in partnership with Open Campus, a nonprofit newsroom focused on higher education.

Adam Echelman COMMUNITY COLLEGE REPORTER

Leading Nonprofit, Millionaire Mastermind Academy, to Host Diversity in Finance Economic Empowerment Fireside Chat, July 17

The virtual event is part of an ongoing program

Standifer said.

Key proposals include:

Provision of details about transaction rationale and details surrounding investment vehicles or corporate relationships.

Provision of information related to products or services in both horizontal products and services, and non-horizontal business relationships such as supply agreements.

Provision of projected revenue streams, transactional analyses and internal documents describing market conditions, and structure of entities involved such as private equity investments.

Provision of details regarding previous acquisitions.

Disclosure of information that screens for labor market issues by classifying employees based on current Standard Occupational Classification system categories.

These proposed changes also address Congressional concerns that subsidies from foreign entities of concern can distort the competitive process or otherwise change the business strategies of a subsidized firm in ways that undermine competition following an acquisition. Under the Merger Filing Fee Modernization Act of 2022, the agencies are required to collect information on subsidies received from certain foreign governments or entities that are strategic or economic threats to the United States.

The Notice will be published in the Federal Register later this week. Comments are due 60 days after publication. For more details about the Notice of Proposed Rulemaking, please read the related FAQ on the Federal Register Notice page. The Commission vote to publish for public comment the Notice of Proposed Rulemaking containing proposed amendments to the HSR Rules was 3-0. FTC Chair Lina M. Khan was joined by Commissioners Rebecca

Kelly Slaughter and Alvaro M. Bedoya in a statement on the Commission's proposed amendments. The Federal Trade Commission works to promote competition, and protect and educate consumers. You can learn more about how competition benefits consumers or file an antitrust complaint. For the latest news and resources, follow the FTC on social media, subscribe to press releases and read our blog.

OP-ED: Honoring our Past and Looking Towards the Future...continued

from page 1 history encompasses far more than the horrors of those who were enslaved. Their countless descendants include historymaking visionaries, and IAAM honors and preserves their struggles and accomplishments and dares us to look toward the future.

I must admit that there were times during my chairmanship, especially in those early days, when I was not sure we would get this project across the finish line. I am proud that after more than 20 years of hard work and dedicated commitment, we are celebrating its opening, and future generations can learn fuller and more accurate stories of America’s greatness.

SCOTTSDALE, Ariz., June 27, 2023 (SEND2PRESS

NEWSWIRE) -- On July 17, the Millionaire Mastermind Academy, a leading nonprofit organization addressing the barriers to opportunity for underrepresented businesses, will host an economic empowerment "Diversity in Finance" Fireside Chat. The virtual event is part of an ongoing program and is sponsored by Blaylock Van, LLC, the nation's longestcontinuously operating Blackowned investment firm.

The economic empowerment program is designed for minority female entrepreneurs and seniorlevel professionals interested in strengthening diversity, equity, and inclusion (DEI) outreach. Speakers include Eric Standifer, President and CEO of Blaylock Van; Dr. Velma Trayham, CEO and founder of the Millionaire Mastermind Academy and Thinkzilla Consulting; and Trisha Oreta, Senior Vice President, of Blaylock Van. The Diversity in Finance Fireside chat will share innovative best practices, resources, and opportunities for minorities to succeed in the financial services industry.

"Blaylock Van is committed to empowering, educating, and providing opportunities for minority female business owners and professionals, and diversity, equity, and inclusion will always be a core component of our work. Partnering with leading organizations such as the Millionaire Mastermind Academy helps our firm reach more underserved populations and provide critical resources,"

In the financial services industries, progress on gender diversity and other DE&I initiatives has been slow, but more organizations are recognizing the value of working with diverse suppliers, building a diverse workforce, and taking steps to improve.

"Diversity is not only good for business, but also the right thing to do, and to achieve true diversity in the financial services industry requires collective action. This is why we serve thousands of underserved and excluded populations annually with resources, tools and technical assistance programs to move forward and create more meaningful opportunities," added Dr. Trayham. "We are thrilled to expand our partnership with Blaylock Van, which offers economic impact for diverse women and for the industry as a whole."

Since its inception in 2017, the Millionaire Mastermind Academy has served more than 8,000 individuals and has led successful programs directing more than $100 million in economic activity into underserved communities. Awarded more than $500,000 in scholarships and issued more than $50,000 in seed funding. Thanks to title sponsors including JPMorgan Chase & Co., Truist Bank, American Landmark Apartments, Country Financial, and Blaylock Van, among others.

In addition, Millionaire Mastermind Academy provides engagement models for corporations and government entities interested in strengthening DEI or ESG goals by engaging underserved populations.

To register for the Diversity In Finance event, visit eventbrite. com/e/diversity-in-financefire-side-chat-empoweringwomen-entrepreneursregistration-661381930157

For more information: millionairemastermindacademy. org