Newsom Signs Bill Granting Extra $330 Million for Film and TV Industry

Newsom Signs Bill Granting Extra $330 Million for Film and TV Industry

7/21/2021 11:34:00 PM

Newsom Signs Bill Granting Extra $330 Million for Film and TV Industry

Gov. Gavin Newsom signed a bill on Wednesday that provides an extra $330 million for the film and TV industry, and also carries a new incentive to promote diversity on sets. Newsom signed the bill …

Newsom signed the bill at Sunset Gower Studios in Hollywood.The bill includes a new $150 million tax credit aimed at promoting the construction of new soundstages. That provision will be earmarked for productions that shoot at least 50% of their schedule on at a newly built studio facility.

Mary Trump on why Donald Trump’s presidency left country ‘so vulnerable’ Help or 'get out of the way,' Biden says to governors on combatting pandemic 5 Times Dua Lipa Proved She's a Blink

The bill also includes $90 million a year for the next two years to lure TV shows from other states, and to subsidize TV shows that have already relocated.The extra money for Hollywood comes after the state experienced an unexpected $75 billion surplus.

The soundstage provisionincludes a requirementthat productions hire a workforce that is “broadly reflective” of the diversity of California’s population.Though the state has previously required reporting of diversity statistics, it has never before set a diversity hiring goal in the tax credit program. headtopics.com

Popular on Varietypublished a study on Wednesdayof more than 51,000 names taken from entertainment union rosters. An analysis of surnames showed that 16.1% of the names are Latino and 4.7% are Asian American — far below the state’s population for both groups.

Under the new soundstage credit, productions that meet their diversity targets will receive a 4% bonus on the tax credit — 2% each for hitting goals for above-the-line and below-the-line hiring.Since 2015, the state has provided $330 million a year in credits to films and TV shows. The program is aimed at competing with other U.S. states, as well as the United Kingdom and Canada, that had used tax incentives to lure away much of the industry’s production work.

With the state flush with cash, Newsom initially proposed a $30 million increase in the TV relocation incentive. That quickly ballooned, with the Legislature adding $150 million to cover a “shortfall” for the TV shows that had already relocated.Sen. Anthony Portantino, a Democrat who represents Burbank and Glendale, had pushed for the soundstage incentive, arguing that Los Angeles has to do what it can to maintain an edge over its rivals.

Read more: Variety »

Help or 'get out of the way,' Biden says to governors on combatting pandemic

The president took aim at local officials, including the Florida and Texas governors, over laws that prevent public health measures in the wake of surging COVID-19 cases.


Newsom administration hires special counsel in probe of California unemployment fraudState officials have hired former federal prosecutor McGregor Scott to serve as special counsel to assist in investigating fraud in California's unemployment benefits system. They've been probing me, up my butthole, with out lube, since October. I used to work 50-70 hrs/wk and live out me vehicle. Somehow homelessness is Unemployment fraud; homelessness is a serious felon in California. $20,000 back pay

Will California need a new mask mandate? Delta variant brings Newsom new challengesThough the Newsom administration has thus far deferred to counties, that could change if California continues to see an increase in COVID-19 cases and hospitalizations.

Zack Snyder’s Stone Quarry Productions Signs First-Look Film Deal With Netflix (Exclusive)The Stone Quarry Productions, a banner run by filmmaker Zack Snyder, producing partner Deborah Snyder, and executive Wesley Coller, has signed a first-look film deal with Netflix. The two-year deal… W This is gonna be so great! I just hope he's negotiated a little wiggle room for if WB get over themselves and need him for a bit to finish his Justice League arc in-between all his huge wins for Netflix! RestoreTheSnyderverse ZackSnyder

Olivia Wingate Launches Wingate Media, Unveils Film & TV Development SlateEXCLUSIVE: Former Avalon manager Olivia Wingate has launched the solo production company Wingate Media, bringing all her projects and team with her, we hear. Wingate Media will be headquartered in …

African American Film Critics Association: Michaela Coel, Steve McQueen and ‘Lupin’ Among Special Achievement TV HonoreesThe African American Film Critics Association has announced that it will present a number of special accolades at its third annual AAFCA TV Honors on Saturday, August 21. Michaela Coel, the recentl…

Pandemic Wipes $3.5B Off Film & TV’s Contribution To UK EconomyAs coronavirus continues to wreak havoc on production in the UK, with shutdowns on shows including Bridgerton, a new report has cast light on the scale of the damage caused by the pandemic. Not-for…