California Agrees on Deal to Expand Film and TV Incentive to $330 Million a Year

Lawmakers and Gov Jerry Brown (D-CA) said they had reached an agreement to expand the California film incentive program, capping a drive by entertainment industry unions, filmmakers and executives to bolster sagging movie and television production in the state.

The new tax-credit incentive will provide $330 million in state money annually for local film and television production, replacing an expiring program that was limited to $100 million a year.

The incentive will be offered for five years beginning with the 2016 fiscal year under the deal between Gov Brown and legislators, many of whom had been pressing for as much as $400 million in annual financing, to match similar incentives offered in New York.