From The Hollywood Reporter · Katie Kilkenny · · 40s
Newsom Signs Hollywood Tax Credit Bill
California Gov. Newsom signs bill to protect Hollywood tax credits.
In brief
California Gov. Newsom signs bill to protect Hollywood tax credits. California Gov. Newsom signed SB 186 to exempt independent films from tax credit caps, allowing 95% monetization of credits with faster payouts. Originally reported by The Hollywood Reporter.
Newsom Signs Bill
california gov. gavin newsom signed sb 186 into law.
Exempts Independent Films
independent productions avoid tax credit usage caps.
Monetization Boost
productions can now monetize 95 percent of credits.
Faster Payouts
payout timeline sped up to two years.
Industry Push
hollywood pushed for changes to tax credit rules.
What Happens Next
california maintains leadership in film production.
The main idea
California Gov. Newsom signed SB 186 to exempt independent films from tax credit caps, allowing 95% monetization of credits with faster payouts.
