California Expands Tax Credit Program

California Governor Gavin Newsom recently signed legislation investing $330-million dollars into an expansion of the state’s Film and Television Tax Credit Program, which is designed to attract production jobs to the state of California. Newsom signed the bill surrounded at a ceremony at the Sunset Gower Studios facility in Hollywood. According to Variety’s coverage of the event, the bill includes a new $150-million tax credit designed to promote the construction of new soundstages in the state by offering credits to any productions that shoot at least 50 percent of their schedule on newly built stages and hire crews that reflect the state’s diversity. The bill also includes $90-million a year for the next two years to subsidize TV shows that move to California from other states.