The California Legislature has passed a budget trailer bill expanding the state's Film and Television Tax Credit Program from $330 million to $750 million, sending the measure to Gov. Gavin Newsom's desk for his signature.
Democratic Caucus Chair Rick Chavez Zbur announced the adoption of SB 132, which was included in the state budget agreement. The expansion represents the first of two steps aimed at protecting and expanding film and television jobs in California.
The second step will come next week when AB 1138, the California Film and Television Jobs Act, moves forward in the Senate Appropriations Committee. The bill, authored by Zbur and Sen. Ben Allen, D-Santa Monica, aims to modernize and strengthen the film tax credit program.
Joint authors of AB 1138 include Assemblymembers Isaac Bryan, D-Los Angeles; Sharon Quirk-Silva, D-Fullerton; and Mike Gipson, D-Carson, along with Senators Caroline Menjivar, D-San Fernando Valley; Sasha Renee Perez, D-Pasadena; and Henry Stern, D-Los Angeles.
"After years of uncertainty, workers can once again set the stage, cue the lights, and roll the cameras—because California is keeping film and TV jobs anchored right here, where they belong," Zbur said in a statement.
He called the expansion "a historic investment in our creative economy, our working families, small businesses, and the communities that depend on this industry to thrive."
Zbur thanked Newsom, Assembly Speaker Robert Rivas and Senate President Pro Tem Mike McGuire for their leadership on the issue.
Since its inception in 2009, the Film & Television Tax Credit Program has created more than 197,000 jobs statewide and generated $26 billion in economic activity, according to program data.
The LA County Economic Development Corporation reports that every dollar spent through the program generates $24.40 in economic output, $16.14 in gross domestic product, $8.60 in wages and $1.07 in state and local tax revenue.
The expanded funding aims to help California compete with other states and countries that offer film production incentives while maintaining the state's position as a global entertainment hub.
Edited by SMDP Staff