<< Home First Colombian Film Industry Bulletin A project designed by Fedesarrollo for Proimágenes 4. GROWTH INDICATORS FOR COLOMBIAN FILM INDUSTRY   Law 814 of 2003 (known as the Film Law) created incentives for the Colombian film industry such as a Film Development Fund (FDC) and a number of tax incentives. The FDC is maintained by parafiscal contributions from exhibitors, distributors and producers of Colombian films. These parafiscal contributions have made it possible to collect nearly 65 billion pesos between 2003 and the first semester of 2011. The FDC distributes these resources through call-for-entries and automatic and other stimuli.   The Law assigns 70% of FDC resources to the creation, production, coproduction and directing of feature-length films, short films and documentaries. The remaining 30% of FDC resources support complementary actions taken to promote the filmmaking industry, including preservation of the nation's film archives, training programs, an anti-piracy campaign, and international promotion. The FDC's 2011 budget approved by the National Coucil of Film Arts and Culture (CNACC) totals 17.9 million pesos, of which 13.4 million were approved for production and 4.5 million for other stimuli.   The majority of the 70% of FDC resources earmarked for film production go to feature film production. A total of 7.55 million pesos were approved in 2011 for feature film production. In 2011, the FDC will disperse 2.25 millions pesos to stimulate production of documentaries, short films and the writing of screenplays.   With Law 814 of 2003, the Colombian government also began offering incentives to those who invest in national film production. The Film Law is an incentive for individuals and private enterprise to invest in and donate resources to national film productions. This tax incentive decreases the tax base of investors or donors by 125% of the amount invested or donated. Since 2004, a total of 66.155 millions pesos in incentives have been granted to investors, benefitting 80 different film projects.