California Budget Plan Raises Film Tax Credits to $750 Million

California Gov. Gavin Newsom followed through on his plan to more than double the amount available every year in state film and television tax credits to $750 million in his annual budget plan released on Friday.

Newsom’s proposal is now in the hands of lawmakers, who will decide by June 15 whether to accept or change it as part of a spending plan for the fiscal year that starts July 1. Newsom is proposing a balanced $229 billion general fund spending plan, which is an 8% increase over last year and a turnaround from the $27 billion projected deficit ...