California Boosts Film Credits Amid Production Slump | JQJO

California earmarked $342 million in film tax credits to jumpstart big-budget production, led by a record $43.9 million for the next Jumanji, set to shoot in November for a December 2026 release. “Heat 2” will receive $37.2 million, and a Universal feature from the Daniels rises to $38.4 million after the state expanded its incentive program; the project withdrew and reapplied, lifting coverage to 35.8% of qualified costs. A June overhaul will allocate $337 million to films and $412 million to TV for five years, amid a 29% job drop and a 43% quarterly slide in California big-budget shoots.