US EditionCalifornia Legislature Approves $750 Million Film Tax Credit
- On Friday, the California Legislature approved a measure to more than double the state’s annual funding for incentives supporting film and TV production, raising the total allocation from $330 million to $750 million.
- The increase responds to growing competition from other states and countries that offer generous tax incentives, causing production and jobs to leave California.
- The bill AB 1138 also expands qualifying productions and raises credits to 35% for Los Angeles projects, aiming to attract more filming and jobs back to California.
- Rebecca Rhine emphasized that the tax credit functions as a critical jobs initiative essential for retaining the film industry in California, even as recent permit records indicate that production activity in Los Angeles has dropped to its second-lowest level in 2024.
- Despite the tax credit expansion, critics say it does not address deeper economic issues like housing costs or broader business climate challenges, suggesting more comprehensive reforms are needed.
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30 Articles
More and more Hollywood productions are moving abroad for cost reasons. To stop this trend, California has more than doubled the tax incentives for filming.
California Doubles Down on Film Incentives to Halt Hollywood’s Decline
California’s government has decided to spend much more money to help the film and television industry. Lawmakers voted to raise the state’s yearly tax credit for movie and TV productions from $330 million to $750 million. This big increase is meant to keep jobs and productions in California, especially in Hollywood, which has lost many […]
The California Parliament approved on Friday the doubling of the tax credits granted to film and television production in order to halt the decline of Hollywood. ...
Los Angeles (USA), 27 Jun (EFE).- The California legislature approved on Friday an increase in annual tax credit for film and television productions, which will go from 330 million to 750 million dollars. The bill, driven by months of pressure from producers, directors and unions, represents key support for an industry hit in recent years by the pandemic, the strikes of screenwriters and actors in 2023, budget cuts in studies and forest fires in…
Lawmakers Approve Big Increase in California’s Film Tax Credit to $750 Million Yearly - The Thinking Conservative
Lawmakers approve big increase in California’s film tax credit to $750 million yearly through June 2030 to keep more film production in California. The post Lawmakers Approve Big Increase in California’s Film Tax Credit to $750 Million Yearly appeared first on The Thinking Conservative.
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