Newsom’s Proposes $420M New Subsidy for Hollywood Amid California Budget Cuts

Update: 2024-11-02

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California Gov. Gavin Newsom announced his plan to more than double the state’s tax credits for film and television, aiming to raise the refundable credit by $420 million. The state’s own studies have found half of the projects that apply for but don’t get film subsidies end up staying anyway. In 2023, Newsom made the program a refundable credit, meaning that if the credits exceed owed taxes, a recipient gets cash from the state.

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Full story: https://www.thecentersquare.com/california/article_5a6e0680-957f-11ef-8e16-43b902b4dbe1.html

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Newsom’s Proposes $420M New Subsidy for Hollywood Amid California Budget Cuts

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Newsom’s Proposes $420M New Subsidy for Hollywood Amid California Budget Cuts

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Newsom’s Proposes $420M New Subsidy for Hollywood Amid California Budget Cuts