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California lawmakers approve film and TV tax credit expansion to $750 million – Montana Media Act capped at $12 million per year until 2029
California lawmakers approved a dramatic expansion of the state’s beleaguered tax credit for film and television production, a move long sought by Hollywood and a priority for Gov. Gavin Newsom.
The trailer bill was approved by a large margin on Friday, June 27, as part of Newsom’s $321 billion state budget that is designed to close a $12 billion deficit.
The Film and Television Tax Credit Program is set to expand from $330 million a year to $750 million through 2030. The Assembly approved the measure by a 64-1 vote, while the Senate passed it 31-3. Newsom must sign the bill before it goes into effect.
Montana Media Act Signed by governor, Supports Montana Filmakers
By Mario Carr EBS CONTRIBUTOR
The Montana Media Coalition united ahead of this year’s legislative session with hopes of keeping the Montana film industry alive through a tax incentive program for Montana filmmakers. While not all of their goals were accomplished, coalition President Lynn-Wood Fields is hopeful about their wins, mostly the passage of Senate Bill 326.
Fields and other coalition members brought Montana filmmakers to the table so that legislators could meet the Montanans that would be affected by the bill, which sought to expand tax incentives for Montana film projects, and establish sideboards to ensure those incentives directly benefit Montanans themselves.
Major film and television production facility opens in Missoula
James Brown III, President and CCO of Story House Montana, expressed the vision behind the facility. “It’s an opportunity to build a creative village where stories deserve to be told right here in Montana for Montana about Montana,” he said.
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