In an open letter to Hollywood, Gov. Gavin Newsom called on companies to stop doing business in states that have 'waged a cruel assault on essential rights' in the wake of the Supreme Court's decision.
Gov. Gavin Newsom is backing legislation that will extend California’s film and television tax program for an additional five years through 2030. The announcement on Wednesday came in an intensifying bid to draw productions from states, like Georgia and Oklahoma, that have passed laws restricting abortion rights after the Supreme Court overturned Roe v. Wade., if passed, will provide $1.
65 billion or $330 million annually in tax credits to film, TV and other media productions beyond 2025, when the program was set to expire. Last year, Newsom signed off on adding $180 million in incentives over the next two years, which temporarily increased the annual amount in incentives to $420 million, thanks to a budget surplus. The expansion of the program included $150 million in tax credits to encourage soundstage construction.
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