NY Budget Plan Boosts Film Tax Credits to $800 Million (1)

New York lawmakers are backing a budget proposal by Gov. Kathy Hochul (D) to create $100 million in film tax credits for independent producers, boosting the size of the annual film production benefit to $800 million.

The Democratic majorities in the state Senate and Assembly included the governor’s new independent film production program in budget resolutions they plan to pass Thursday before negotiating with Hochul on a final budget due April 1.

Both chambers also backed a two-year extension of the existing $700 million program for other film production and post-production activities, allowing it to last through 2036. The credit ...