New legislation introduced Saturday would resolve Hollywood’s thorniest political fight in Sacramento
After the shooting of cinematographer Halyna Hutchins, proposed legislation to ban guns on sets has been scaled back and no changes have been made.Newsom’s proposal earlier this year to make $330 million in film tax credits
available per year from 2025 to 2030. By making the credit refundable, Carrillo said more companies will be able to take advantage of it, which should bring more productions to the Golden State. Currently, she said, only Disney and Universal Studios benefit from the tax credit because they have larger tax bills in California due to their theme parks. Making it refundable will allow Netflix, Warner Bros. Discovery, Sony and Paramount to benefit from the program too, Carrillo said. Even if their California tax bills are smaller than the tax credit they qualify for, the new program will allow them to get a portion of the credit paid in cash.
“We are in a very competitive fight to ensure that these jobs stay in California, and they are jobs that primarily impact Los Angeles County and the city of L.A.,” Carrillo said. The film industry legislation is one of nearly two dozen budget-related bills that lawmakers are expected to pass Tuesday as they work toward a final agreement with Newsom on the 2023-24 state budget. Negotiations have been dragging as Democrats who control the CapitolNewsom faces a June 30 deadline to sign the budget. He is expected to sign the raft of budget-related bills lawmakers send him this week by that date.
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