By Gene Maddaus
Plus IconGene Maddaus
Senior Media Writer
@GeneMaddaus See All
Shutterstock Lawmakers in Sacramento introduced a budget fix on Thursday that helps film producers by adjusting a state cap on tax credits.
The agreement, first reported by Variety on Tuesday, falls short of a full carveout for film and TV tax credits from a blanket $5 million annual cap, which industry leaders have been seeking since June.
But the deal does fully exempt tax credits for independent films, while accelerating the payback period for tax credits for major studio projects.
Popular on Variety
Related Stories
