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Will Newsom's film tax credit proposal face legal challenges by Q1 2025?
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Gavin Newsom to Announce Sunday Proposal to Double California Film Tax Credits to Revitalize Hollywood
Oct 27, 2024, 03:27 PM
California Governor Gavin Newsom is set to announce a significant proposal aimed at revitalizing the state's struggling film and television industry. This initiative, scheduled for Sunday, will reportedly involve a plan to more than double the state's film tax incentive program. The proposal comes in response to a notable drop in production within the industry, exacerbated by recent labor unrest and disruptions. Newsom's office has indicated that this move is intended to stimulate work and production in Hollywood, which has faced challenges in recovering. The announcement will be made in conjunction with Los Angeles Mayor Karen Bass, highlighting a collaborative effort to strengthen California's film sector.
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