Gavin Newsom Proposes Expanding California’s Movie and TV Tax Credit to at Least $1 Billion

Governor Gavin Newsom is proposing a significant expansion of California's Film and TV Tax Credit Program, aiming to increase annual tax credits from $750 million to at least $1 billion. This initiative seeks to curb production flight from the state. Furthermore, Newsom is urging Congress to pass the Motion Picture, Television and Entertainment Revitalization Act (MPTERA) by the end of the year to further support the entertainment industry and revitalize production within the region.