The increase from the current $330 million was approved as part of a broader tax bill that is expected to be signed into law by Governor Gavin Newsom in the coming days.
Producers, directors, actors and behind-the-scenes workers have warned lawmakers that Hollywood was at risk of becoming the next Detroit, the automaking capital devastated by overseas competition, if current trends continued.
Producer Uri Singer said he shot three films in New York to take advantage of its tax incentives. He received a California tax credit to shoot his current project, a horror flick called "Corporate Retreat," in Los Angeles.
Plus, "the crew is happy because they go home every day," Singer added.
Writer Alexandra Pechman, an organzier of a "Stay in LA" campaign by Hollywood workers, called on Hollywood studios to commit to a specific amount of spending in California to support creative workers.
Industry supporters also are pushing for federal tax incentives to keep filming in the United States.
Republican President Donald Trump has offered a different way to address the issue. Trump said in May that he had authorized government agencies to impose a 100% tariff on movies produced overseas. The movie tariff has not been implemented.
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