Gov. Gavin Newsom on July 21 signed SB 144 into law at Sunset Gower Studios in Hollywood, authorizing the state to leverage its record 2021-22 State Budget with a $330 million investment in California’s Television and Film Tax Credit.

The investment will enable officials to build more sound stages to meet production needs, retain and bring jobs back to the state, institutionalize incentives for productions that meet below-the-line and/or above-the-line equity efforts and ensure that the Film Tax Commission that oversees productions that benefit from tax credits has the authority necessary to collect data on workforce development.

“California’s iconic entertainment industry is a point of pride that creates important revenue and opportunity for workers, businesses and communities across the state,” the governor said. “Today’s investments ensure film and television production will continue to fuel the California comeback through thousands of good jobs right here in the Golden State, training opportunities to increase access, and a focus on fostering diversity and inclusion for a workforce that better reflects our vibrant communities.”