California proposes increasing annual film tax credit to $750 million

LOS ANGELES, California: Governor Gavin Newsom's office said on October 28 that he proposed increasing the money available for film and television production incentives in California to US$750 million annually from $330 million.

The tax credit expansion was to lure some lost filmmaking production back into Hollywood's home state, which has recently been affected by limited tax credit funding and increased compet