Three Southern California lawmakers introduced companion bills Tuesday to modernize and strengthen the state's Film & Television Tax Credit Program amid growing competition from other states and countries.
Assemblymember Rick Chavez Zbur (D-Hollywood), Sen. Ben Allen (D-Santa Monica), and Assemblymember Isaac Bryan (D-Culver City) jointly announced Assembly Bill 1138 and Senate Bill 630, legislation designed to retain entertainment industry jobs and businesses in California.
The bills build on Gov. Gavin Newsom's recent proposal to increase the program's annual funding to $750 million.
"Hollywood was born here in California and this iconic industry is a cornerstone of our economy," Zbur said. "This isn't just about red carpets and award shows. This is about middle-class jobs, small businesses and economic opportunity."
The entertainment industry has traditionally accounted for over 200,000 direct jobs in California, but production has been leaving the state as other locations offer increasingly competitive tax incentives.
Since its inception in 2009, California's Film & Television Tax Credit Program has generated significant economic returns. According to lawmakers, each tax dollar approved has resulted in $24.40 in output, $16.14 in GDP, and $8.60 in wages.
"This expansion will create jobs, support local businesses, and help bring production back to California," Allen said. "By providing increased funding for this program, we will also ensure that the state remains competitive."
Bryan, whose district includes many entertainment industry workers, added, "The economic benefits our state receives is multiplied by every dollar we invest. We have to protect creativity and we have to protect the livable wage jobs that are required to bring that creativity to life."
Both Zbur and Allen serve on the California Film Commission. The bills will be referred to policy committees in the coming weeks.
