CAA calls for film and TV tax credit exemption

The head of a major Hollywood talent agency warned California officials that a new budget provision placing a $5 million cap on corporate film and TV tax credits threatens to undermine the state’s expanded film incentive program. Despite increased funding aimed at boosting production and jobs, the cap could reduce the value of credits already earned and destabilize the industry’s growth in California. Lawmakers are reviewing measures to exempt the credits from the cap, amid concerns from industry advocates and unions about potential job losses and decreased competitiveness.

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