California legislature approves $750 million film tax credit Friday, June 27, 2025 11:35PM Trying to lure productions back to Hollywood, California has voted to approve a major expansion to the state's film and TV tax credit program. Trying to lure productions back to Hollywood, California has voted to approve a major expansion to the state's film and TV tax credit program.The legislature voted Friday to move the yearly cap from $330 million to $750 million.People in the industry have been lobbying for the expansion for months as they deal with the aftermath of the pandemic, strikes, and major competition from other states and countries.This is a breaking report. Come back to this page for updates.PREVIOUS REPORT: 7 On Your Side Investigates: Can a tax credit save Hollywood and keep production from fleeing?As production continues to plummet in Hollywood, efforts are underway to save Los Angeles' movie and TV jobs. But is it too little too late? Report a correction or typo Copyright © 2025 KABC Television, LLC. All rights reserved. Related Topics POLITICS HOLLYWOOD CALIFORNIA ARTS & ENTERTAINMENT MOVIE MOVIE NEWS MOVIES TAXES GAVIN NEWSOM BUDGET