Hollywood Urges Carve-Out as CA Film Credits Face Caps
TL;DR Summary
A coalition led by the Motion Picture Association warns Gov. Newsom that proposed caps on California film tax credits (a $5 million annual limit for three years and a permanent 70% liability cap starting in 2030) would chill production and cost tens of thousands of middle-class jobs, pushing for an exemption to keep credits fully usable; state officials argue the cap is a budget compromise with some credits still redeemable or transferable.
Topics:entertainment#business#california-budget#film-incentives#hollywood#production-jobs#tax-credits
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