Why the New California Film Tax Credit is a Hill of Beans for Independent Films

Here is a list of why the new California film tax credit is a hill of beans for independent films, the only category of films for which the credit is assignable, which is generally required to convert the credit into production cash: The total amount of credits is capped each year ($230 million for July 1, 2015 through June 30, 2016, and $330 million per year after that), and the amount of the total credits reserved for independent films is only 5% - yes, you read that right.  So that leaves cr...