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Newsom proposes $1 billion cap for film and TV tax credit
Original: Governor Newsom proposes $1 billion cap for film and TV tax incentive
California Governor Gavin Newsom has proposed expanding the state's film and television tax incentive program to a cap of $1 billion. The move is aimed at keeping production jobs in California as other states and countries compete to attract Hollywood studios with generous subsidies. The proposal would need approval from the state legislature, and industry groups are expected to lobby for its passage.
Why now: California is trying to counter the loss of film and TV production to other states and countries.
Gavin NewsomCaliforniaHollywood
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Evidence
- Governor Newsom proposes $1 billion cap for film and TV tax incentive · Los Angeles Times
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