LOS ANGELES—Gov. Gavin Newsom will join Los Angeles Mayor Karen Bass in Hollywood on Sunday to propose a major increase in the tax credit the state offers to producers of films and TV shows that shoot in California.
The governor will announce a plan to boost the annual tax credit from its current $330 million to $750 million, which would represent the largest amount offered by any state.
The plan, which still needs approval by the state Legislature, could take effect as early as July 2025.
The Los Angeles area, long considered the center of film and TV production in the United States, has struggled to retain its hold in recent years, losing business to Canada and other states that offer more attractive incentives….