"State Rivalry: California Extends Film Tax Credit, New Jersey Lures Netflix Studio"

California has extended its $330 million tax incentive for film and TV production for five more years, making the credit refundable for the first time. The bill also includes provisions for promoting diversity in the industry and establishing gun safety requirements. In a separate move, New Jersey has expanded its incentive for production infrastructure, aiming to attract Netflix and Lionsgate to build new studios in the state. The cap on New Jersey's incentive for studio construction will increase, and the incentive for production companies leasing space at New Jersey studios will also rise. Other states like New York and Texas have also recently increased their film tax incentives, while Nevada's bill to provide incentives for film and TV projects was not approved.