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’s Film & Television Tax Credit Program, freeing up $750 million a year to entice moviemakers to work in the state.
The proposal follows the 2023 SAG-AFTRA strike, during which thousands of industry workers went on strike for more than three months. The strike resulted in an estimated $5 billion nationwide loss in the entertainment industry, but writers and actors may have been in a worse economic position without it, according to a
According to the press release, for every tax credit dollar approved, $24.40 in output, $16.14 in GDP, $8.60 in wages, and $1.07 in initial state and local tax revenue from production in the state were generated. Since the program began in 2009, it has generated over $26 billion in economic activity and supported more than 197,000 cast and crew jobs.
When Bass was speaker of the California Assembly, she championed the original 2009 California Film & Television Tax Credit Program. She is supportive of expanding the incentive, which she said has been at the top of the priority list for entertainment industry leaders.
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