Steve Hilton proposes up to 60% film tax credit for Hollywood
Updated
Updated · Hollywood Reporter · Apr 30
Steve Hilton proposes up to 60% film tax credit for Hollywood
4 articles · Updated · Hollywood Reporter · Apr 30
The California gubernatorial frontrunner is set to unveil the plan on Thursday after meeting the Motion Picture Association, with a floor of 40% versus current credits of 35% to 45%.
He also wants to scrap the $750m annual cap, extend credits to post-production and above-the-line costs, and speed approvals through a new entertainment expediter and revamped Film Commission.
Hilton says the package would help reverse losses of more than 50,000 California production jobs as shoots move to cheaper states, though the proposal could cost billions and faces budget and union concerns.
As rivals embrace AI, are massive tax credits for physical shoots fighting the last war for Hollywood's future?
Can California win a global subsidy war, or will uncapped tax credits create an unsustainable cost for taxpayers?