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Newsom proposes $1 billion cap for film and TV tax incentive
California Governor Gavin Newsom has proposed raising the cap on the state's film and television tax credit program to $1 billion. The move aims to keep Hollywood productions in California amid competition from other states and countries offering incentives. Industry figures have long called for expanded support as film and TV work has shifted out of the state.
Why now: The proposal comes amid ongoing concern about film and TV production leaving California, making state support for Hollywood a live political issue
Gavin NewsomCaliforniaHollywood
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