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Story summary
- California Legislature approved SB 186, a budget fix that lets studios cash tax credits faster.
- The bill passed both Assembly and Senate before the midnight Monday end-of-session deadline.
- Studios can redeem credits within two years instead of five.
- Independent-film tax credits remain exempt from the $5 million annual cap.
- Expiration for old non-refundable credits extends from nine to up to 15 years.
