CA Aims to Double Film Tax Credits Amid Industry Decline

(The Center Square) - California legislators have unveiled a bill to follow through with the governor’s plan of more than doubling the state’s film and TV production tax credits to $750 million. The state’s own analysis warns it’s likely the refundable production credits generate only 20 to 50 cents of state revenue for every dollar the state spends, and the increase could stoke a “race to the bottom” among the 38 states that now have such programs. Industry insiders say the state’s high production costs are to blame for much of the exodus, and experts say the cost of housing is responsible for a significant share of the higher costs. Support this podcast: https://secure.anedot.com/franklin-news-foundation/ce052532-b1e4-41c4-945c-d7ce2f52c38a?source_code=xxxxxx Read more: https://www.thecentersquare.com/california/article_296c8e3c-7d61-4405-b0c8-696511cc239c.html