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California Lawmakers Introduce Bills To “Modernize” Film & TV Tax Credit Program In Conjunction With Newsom’s Proposed Expansion
California lawmakers say they are aiming to "modernize" and "amend" the California Film and TV Tax Credit Program to bring production back to the state
The bills, sponsored by Senator Ben Allen and Assemblymembers Rick Chavez Zbur and Isaac Bryan, are meant to “amend, update, and modernize” the current program beyond Newsom’s commitment to increase the tax credits from their present level of $330 million a year to around $750 million annually. “Something like 77% of the projects that are unable to secure a tax credit here in the state end up going elsewhere,” Allen said during a press conference at SAG-AFTRA on Wednesday. Allen assured Wednesday that the plan remains at the forefront of the governor’s mind, despite the other issues weighing on Los Angeles at the moment, including relief and recovery from January’s historic wildfires.
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