U.S. lawmakers propose new tax credits for film and TV production

Legislators in the United States are pursuing new tax incentives to bolster the domestic film and television industry. At the federal level, Representatives Nathaniel Moran and Linda Sanchez are working on a bill that would establish a 20% federal tax credit on eligible labor costs for various productions, including scripted TV, animation, and reality shows. The proposal includes potential bonuses of up to 5%, bringing the total credit to 30% for productions that meet specific criteria, such as filming in rural opportunity zones or bringing production back to the U.S. from abroad.

Simultaneously, in California, industry workers and officials are urging Governor Gavin Newsom to sign Assembly Bill 2319. This state-level measure would create a standalone post-production tax incentive ranging from 35% to 50% for qualified expenses. Unlike existing state credits that require a significant portion of the budget to be spent in California, this new credit would apply even if the production does not shoot within the state. The bill has passed both the state Senate and Assembly, with the Governor having until September 30 to take action.