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California Boosts Film Tax Credit to $750 Million Annually

6/28/2025

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Summary

Story summary

California lawmakers have greenlit Governor Gavin Newsom's ambitious plan to elevate the Film & TV Tax Credit to a staggering $750 million each year, starting July 1. This vital move seeks to safeguard jobs in a beleaguered industry battling fierce competition from other states. Additionally, individual project credits will soar from 20% to an impressive 35%.

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Story summary

California lawmakers have greenlit Governor Gavin Newsom's ambitious plan to elevate the Film & TV Tax Credit to a staggering $750 million each year, starting July 1. This vital move seeks to safeguard jobs in a beleaguered industry battling fierce competition from other states. Additionally, individual project credits will soar from 20% to an impressive 35%.