Newsom to propose increasing Hollywood tax credits to $750 million

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Newsom to propose increasing Hollywood tax credits to $750 million
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Kevin Tidmarsh is Weekend Edition's Producer. Kevin started out in audio making an independent history podcast at Pomona College before going on to work for NPR's Morning Edition, KCRW and Stitcher.

If you're enjoying this article, you'll love our daily newsletter, The LA Report. Each weekday, catch up on the 5 most pressing stories to start your morning in 3 minutes or less.Governor Gavin Newsom is slated to announce an expansion of the state's tax credit for the film and television industry to $750 million this afternoon.Film and television production in California has been slow to rebound after the COVID-19 pandemic and Hollywood strikes last year.

California has been competing more and more with other filming locations, like Georgia, New York and New Mexico. If approved by the California legislature, this would be one of the biggest film and TV tax credit programs in the nation. Some states do not place a limit on their incentive programs.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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