The floor vote comes after the state legislature reached a deal with Gov. Gavin Newsom on a $321 billion budget for the coming fiscal year The post California Lawmakers Pass Cap Raise for $750 Million Film Tax Incentive appeared first on TheWrap.

The California Legislature has officially made Gov. Gavin Newsom’s proposal to up the annual Film & TV Tax Credit funding to $750M annually. Both the state Senate and the Assembly voted Friday on the trailer bill to make the legal changes needed to implement the budget they agreed upon earlier this week.

The Legislature voted Friday to increase the cap on the program from $330 million a year to $750 million. The Assembly approved a budget trailer bill on a vote of 64-1, while the Senate passed it 31-3. The leadership of both houses agreed to the increase as part of a $321 billion budget deal that was finalized on Tuesday.