The tax credits are going to 22 TV productions, including "The Studio" and a "The Big Bang Theory" spinoff ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

Greetings!

When California lawmakers and Gov. Gavin Newsom passed the California Film & TV Jobs Act earlier this summer, it finally threw a badly-needed lifeline to the local entertainment industry. The $750 million incentive program — which was bumped up from $330 million — came as many productions had fled the state, devastating the local production economy.

“Our goal is for this program and this legislation to go into effect this summer, because there is an entire industry in this state that can’t wait,” Assemblyman Rick Zbur told TheWrap's Jeremy Fuster in June.

On Wednesday, we saw the first installment of tax credits. The rule change allowing for 30-minute shows to qualify means a number of notable comedy recipients, such as Apple's "The Studio," made the cut. The total for the first round is $255.7 million, which means there are still more rounds of tax credits to come.

"We’re not just protecting our legacy — we’re reminding the world why the Golden State remains the beating heart of film and television,” Newsom said in a statement on Wednesday.

Read on to see some of the notable recipients.

Roger Cheng
Managing Editor of Business and PRO
roger.cheng@thewrap.com

PS: We continue to offer a free 2-week trial of WrapPRO. If you’ve been wanting to check out our full coverage, now’s the time. Feel free to forward the news.

HOLLYWOOD TAX CREDITS IN ACTION

In total, 22 shows received a tax credit. The programs include "The Studio," which will get $13.2 million, and upcoming "The Big Bang Theory" spinoff "Stuart Fails to Save the Universe," which will receive $20.4 million in tax credits. The largest recipient is an untitled Dan Fogelman drama for Hulu that will get $42.8 million. Here are some of the other larger recipients:

An untitled Apple Studios series — $22 million
Netflix's "Golf" — $17.2 million
"S.W.A.T. Exiles" — $15.7 million
"Untitled 20th TV & DBT Drama for Disney+ — $15.3 million
"Ballard" Season 2 — $14.8 million

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