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California Governor Gavin Newsom signs bill adding $ 330 million to film and television industry – The Hollywood Reporter

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As expected, California Governor Gavin Newsom has signed a bill that offers Hollywood a generous boost.

The new bill, which was proposed by lawmakers earlier in July and signed by Newsom on Wednesday at Sunset Gower Studios in Hollywood, gives the film and television industry an additional $ 330 million in funding. The document comes courtesy of the state’s $ 75 billion surplus, revealed by Newsom in May.

The funds are in addition to the $ 330 million that Golden State is already distributing in Hollywood under its current incentive program. According to the bill, $ 150 million of the additional $ 330 million allocated to the industry is for the construction of a new sound stage in the state. It is intended to allow more projects to shoot in California, where production space is increasingly limited and new facilities are needed.

The bill also requires productions that receive sound stage credit to submit a diversity plan, with the goal of projects hiring a workforce representative of the Californian population. Sponsors for the bill included State Senator Anthony Portantino and Assembly Members Wendy Carrillo and Autumn Burke. It was passed by the state legislature last week.

The bill strengthens the state’s tax credit program more than originally planned. In May, Governor Newsom pledged to add $ 30 million to California’s film incentives because of the huge budget surplus. A month later, California lawmakers proposed an injection of $ 180 million into the program. The resulting legislation turned out to be even more generous, signaling the high value the state places on the film and television industry.

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