‘The beginning of the next phase’: Gov. Newsom signs $750M film tax credit into law

On Wednesday, Gov. Gavin Newsom signed into law a $750 million film tax credit to give Hollywood the boost it desperately needs.

“It’s alive. Not like it used to be, but it’s soon going to be not just alive but thriving,” Gov. Newsom said during Wednesday’s press conference at the Ranch Lot Studios in Burbank.

The goal of this new tax credit is to lure productions back to Los Angeles…

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