Gov. Gavin Newsom Adds $30 Million to California Film Tax Credit Budget

Gov. Gavin Newsom Adds $30 Million to California Film Tax Credit Budget
California Gov. Gavin Newsom has added $30 million in tax credits to the budget of California’s Film Tax Credit Program, allowing the state to give out up to $360 million in tax credits annually to qualifying film, TV and commercial productions that shoot in California.

The added cash comes as part of Newsom’s $100 billion “California Rolls Back” plan, thanks to the state’s $75 billion budget surplus. And in a press conference on Friday, Newsom, who is facing a recall election, mentioned that the new funds were specifically designed to lure productions back from states like Georgia.

“This is an opportunity for those productions, TV and others, in places like Georgia, whose values don’t necessarily always align with the production crews to consider coming back to the state of California,” Newsom said. “And that’s what that $30 million intends to do.”

“Governor Newsom’s announcement to expand the film and
See full article at The Wrap »

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