California Approves $750M Boost for Film and TV Tax Credits

California has approved a $750 million annual increase in its film and TV tax credit program, making it the most generous outside of New York and Georgia, to attract Hollywood productions back to the state. The legislation expands qualifying productions, increases incentives, and aims to reverse recent declines in local film production, with funding secured through 2035 and potential subsidies up to $1.5 billion.