Newsom Signs Bill to Create New Tax Credit for Post-Production
The measure adds $10 million in initial funding and extends credits to projects that bring post work to California, lawmakers said.
- Governor Gavin Newsom signed Assembly Bill 2319 on Friday in North Hollywood, creating California's first standalone tax incentive for post-production work to stem entertainment jobs flowing to other states.
- California's post-production employment share fell from 53% to 42% over 13 years as productions chased incentives to New York, Georgia, and Canada; prior law only covered post-production if 75% of budgets were spent in-state.
- Assemblymember Nick Schultz, D-Burbank authored the bill, which offers a 35% to 50% tax credit for in-state post-production expenses without requiring the underlying project be filmed within California.
- Alongside the new credit, Newsom signed Senate Bill 186 to enhance industry refundability; initial funding is $10 million, though Newsom called the investment a "down payment" suggesting future increases.
- The Editors Guild and California Post Alliance plan to seek additional funding next year; the original proposal sought $100 million, underscoring advocates' view that $10 million is a necessary but insufficient start.
12 Articles
12 Articles
On a strategic visit to Warner Bros., California Governor Gavin Newsom enacted SB 186 and AB 2319 to stop the migration of filming to other states and protect the entertainment industry.The reform solves the obstacles to the $750 million annual program in tax credits, reduces the deadline for cash reimbursements from 5 to 2 years, and creates for the first time an incentive of up to 50% exclusive to the post-production sector.
Gavin Newsom Signs Bill Creating $10 Million Post-Production Tax Credit
Gov. Gavin Newsom has signed a measure to create a $10 million tax credit meant to stem the tide of post-production jobs to other states and overseas. The bill, AB 2319, passed the state Assembly and Senate last month by wide margins. Supporters, including the Motion Picture Editors Guild, had pushed for a credit that […]
Editors Guild Calls California's Post-Production Tax Credit "Historic"
The Motion Picture Editors Guild is praising California’s bill offering tax incentives for productions that shoot outside the state but bring their post work to California. The bill, signed by Gov. Gavin Newsom yesterday, expands the state’s film and television tax credit program and creates a new tax credit to support workers in all areas […]
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