Georgia lawmakers have rejected a bill that would have limited what the state can spend on tax incentives for film and TV production.
Both houses of the California legislature showed support Thursday for extending tax credits for film productions in the state, offering about $330 million annually to studios who film here — with a pending stipulation that filmmakers show real increases in diversity hiring for these projects. The extension, part of a $311.2 billion draft state budget, would keep the California Film and Television Tax Credit Program through 2030. Legislators still are hashing out details for a final budget, which then will require approval from Gov. Gavin Newsom.
Georgia broke a record yet again in direct spending from TV and film producers in the fiscal year ending June 30, 2022, hitting $4.4 billion, according to the Georgia Department of Economic Development. Companies ranging from Netflix to Amazon took advantage of the state’s very generous tax credit program, which dates back to 2008.
More than a dozen states — including the home of Hollywood — are bolstering or considering expanding tax credits and incentive programs for movie and television production, hoping shoots can re-energize their economies. Meanwhile mega productions from WarnerMedia, Apple and Netflix have been filming in states that recently expanded their incentive programs, such as Oklahoma, Montana, Oregon and Kentucky.
