The post-production tax credit passed the Senate. Now what?

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Set us as preferred Help is on the way for California’s film and TV post-production workers.The bill, known as AB 2319, and aimed at supporting the industry’s editors, sound mixers, composers and visual effects artists passed the Senate on Sunday, marking the state’s first-ever standalone post-production tax incentive.The bill — which cleared the Assembly floor by a vote of 72-2 and the Senate approving it by a vote of 33 in favor, 5 against — now awaits Gov.

Gavin Newsom’s signature, which would make the bill law.“We are acknowledging that the industry itself is changing.The pressures on the industry are changing, and we need to modernize and update with it,” Assemblymember Nick Schultz (D-Burbank), who wrote the bill, said.

“We have to do more to compete to keep production in the United States ...This bill really understands that even when that content is shot elsewhere.”Under its terms, the incentive allows a 35% to 50% credit on qualified expenses relating specifically to post-production in California.

It also doesn’t require productions to shoot in the state for the post-production work to qualify for the incentive.Initially, the bill’s advocates asked for $100 million in funding.

But if Gov.Newsom signs it, the program would receive modest funding of $10 million per year, set aside from the Department of Finance.

Hollywood Inc.Earlier this year, Gov.

Gavin Newsom implemented a new tax credit cap on corporations.Under a new bill, the state’s indie filmmakers received an exemption due to ongoing efforts to revitalize the industry.That number is far below what backers had sought, nonetheless, industry advocates welcomed the measure.

The $10 million was “a beacon of hope,” for Marielle Abaunza, the president of the California Post Alliance, a group advocating for the bill.“That $10 mil...