Gov. Gavin Newsom was recently in Los Angeles to sign bipartisan legislation that expands California’s film/TV tax credit program with an additional $330 million over two years, including $150 million targeted specifically at promoting new soundstage development and workforce diversity. The soundstage incentive provides credits for productions that film in newly renovated or constructed facilities and meet diversity targets that reflect California’s population.
Senate Bill 144 also increases funding for the state’s existing production tax credit with an additional $180 million for TV projects. The funds will be allocated over the next two fiscal years, with $75 million each year targeting recurring series and $15 million targeting relocating series.
The bill was backed by Sen. Anthony Portantino (D-La Canada Flintridge) and co-written by Assembly members Autumn Burke (D-Marina del Rey) and Wendy Carrillo (D-Los Angeles). It passed 37-0 in the Senate and 62-0 in the Assembly, demonstrating strong bipartisan support for keeping California competitive and boosting diversity.
Newsom signed the legislation during a ceremony at the historic Sunset Gower Studios in Hollywood, where he was joined by lawmakers, industry leaders and crew members.
“Our existing tax credit program has a long track record of success, and this forward-looking action by Governor Newsom and the legislature will help us compete even more effectively,” said Colleen Bell, California Film Commission executive director. “It’s great to see our lawmakers work together to keep production jobs here at home and ensure that Californians from all backgrounds have access to career opportunities in our state’s signature industry.”
More information about SB 144 and the bill signing is available on the governor’s website.
The California Film Commission is currently working on regulations and protocols to implement the tax credit expansion. Please check the CFC website’s Tax Credit Section for updates and sign up [here] to receive CFC Production Alerts.