With Hollywood facing a writers’ strike, a potential actors’ strike, and concerns about financial losses, the California legislature is offering the industry a lifeline with a measure that benefits both the studios and workers.
An omnibus measure in the state budget will give increased tax credits to production companies that keep their work in California. It also sets new diversity standards, as well as revised safety rules, which were called for in the aftermath of the fatal shooting on the Rust movie set last year.
Entertainment Attorney Jonathan Handel told KNX News’ Pete Demetriou the measure is a win for producers, worker safety, and the state economy.
“It’s good news for workers. It’s good news for the companies that will help keep production, and then hopefully attract production back to Los Angeles, which of course is and hopefully always will be the capital of the American movie industry,” he said.
Gov. Gavin Newsom is expected to approve the inclusion of the measure in the budget. If signed this week, it will take effect immediately.
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