Topline: Why it matters: Film and television production in California has been slow to rebound after the COVID-19 pandemic and Hollywood strikes last year. California's current tax credit for film production is capped at $330 million. It was last expanded by the legislature in 2014.
The backstory: Many Hollywood stakeholders, including the permitting agency FilmLA, have supported the tax credit expansion. Competition from other states: California has been competing more and more with other filming locations, like Georgia, New York and New Mexico. What's next: The expansion will be part of Newsom's proposed budget for January, which will need to be approved by the legislature before being enacted.
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