The Golden State is about to hand out lots more gold to Hollywood, if a newly proposed legislative effort secures Gov. Gavin Newsom’s signature.
A bill revealed Sunday night in the state Legislature (read it here) would see cash-flush California add $330 million to its film and TV credits, with $150 million of that earmarked for soundstage construction.
But it’s not a done deal. State law mandates that the deadline for a bill to pass the Legislature is September 10, before the Sacramento lawmakers go on recess. After that, the bill must be “in the governor’s possession on or before October 10,” per California bylaws.
The bill comes a month after the state Senate Budget Committee proposed a $180 million hike in tax incentives — $90 million a year for 2021-22 and 2022-23. Newsom earlier had proposed $30 million for the next fiscal year.
That has changed.
The new proposal would put the California on...
A bill revealed Sunday night in the state Legislature (read it here) would see cash-flush California add $330 million to its film and TV credits, with $150 million of that earmarked for soundstage construction.
But it’s not a done deal. State law mandates that the deadline for a bill to pass the Legislature is September 10, before the Sacramento lawmakers go on recess. After that, the bill must be “in the governor’s possession on or before October 10,” per California bylaws.
The bill comes a month after the state Senate Budget Committee proposed a $180 million hike in tax incentives — $90 million a year for 2021-22 and 2022-23. Newsom earlier had proposed $30 million for the next fiscal year.
That has changed.
The new proposal would put the California on...
- 7/13/2021
- by Erik Pedersen and Dominic Patten
- Deadline Film + TV
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