The Italian prime minister, Matteo Renzi, has announced that a new Film Act will be in force soon, redefining how the country’s film subsidies are awarded.
![Le Président du Conseil italien, Matteo Renzi](https://mediterranee-audiovisuelle.com/wp-content/uploads/2016/10/renzi-1024x512.jpg)
The Prime Minister of Italy, Matteo Renzi
He said the draft legislation, its second reading approved by the Senate, will almost certainly have its “final approval within a few weeks.”
The Act will strengthen the Italian film industry’s funding, increasing its budget from €200 to €400 million a year in 2017 and reorganizing how it is allocated: according to Mr. Renzi, “the ministerial committees will be replaced by a system of automatic incentives.”
The Italian state will also spend €260 million a year on tax credits, compared with €150 million now. Foreign productions shot in Italy will benefit from 40% tax credits.
The Bill also has specific clauses about training young people (€12 million a year) and reopening cinemas, especially in small towns (€120 million to be invested over five years).
The new Film Act has been long-awaited by the entire film industry: its predecessor dates back to 1949.
Sources: Cineuropa, + Economia, La Repubblica