State Sen. Scott Wilk, R-Santa Clarita, announced that Senate Bill 485), extending the Film and Television Tax Credit until 2030, was approved by the Senate Committee on Governance and Finance. Wilk authored the bill with Democratic Sen. Anthony Portantino, of La Cañada Flintridge.
“The film industry plays a vital role in California’s economy. 2021 was a blockbuster year for Santa Clarita’s film industry, generating nearly $38 million for our local community,” said Wilk. “Extending this tax credit empowers the industry to continue providing mortgage-paying jobs in California, which allows industry employees to work close to home and their families.”
Wilk has advocated for the industry since arriving in the Legislature and was a principal co-author of the 2014 Film and TV Tax Credit.
“I am proud of the success we have had with California’s film tax credits and this extension continues to cement California’s role as a world leader in film and television production and ensuring we sustain job creation for decades to come,” said Portantino. “A long-term investment means that we can have generations of entertainment careers created in California and will allow us to remain competitive with other states. Continuing to invest in new sound stages will also lead to thousands of jobs, millions of dollars in wages and billions of dollars of economic benefit for California. I look forward to working closely with my colleagues, the entertainment industry, and guilds to update and improve the current tax credit program.”
SB 485 is next to be heard next by the Senate Appropriations Committee.