California taxpayers will help underwrite the “Michael” sequel from Lionsgate, with $30.8 million in state tax incentives going toward the production. The original “Michael” also received state support, taking $21 million in credits, before going on to reap more than $1 billion at the box office. California’s tax credit has become more generous since the first film was made, and will provide 35% of qualified costs compared to 17.5% for the original.
Warner Bros. and Paramount — now divisions of Skydance — will also collect state funding of $13 million and $29.3 million, respectively, for untitled films. New Line Cinema will collect $11.4 million for its upcoming “Friday” sequel — for a total of $53.7 million for Skydance projects. New Line’s deal with Ice Cube for “Last Friday” was announced some 18 months ago, and Nia Long recently confirmed the project was still in the works.
The project is described by the film commission as “Untitled Last Friday Sequel.” “I’m thrilled to produce Untitled Last Friday Sequel right here in Southern California, where our cast and crew lives,” said Ice Cube, officially known as O’Shea Jackson Sr., in a release. We’re thankful for the opportunity to stay local.” Disney’s Pixar will take the largest portion this round, collecting $40.1 million for an untitled film, which comes on the heels of a $28.7 million allocation for another untitled Pixar film in June. Disney will also collect another $30 million for two more projects this round, both likewise untitled.
The allocation includes funding for 28 independent films, including an untitled project from Mike Mills and “Leaves of Glass,” set in L.A.’s Chicano communities.
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