Gov. Gavin Newsom (D-CA) touted the $750 million tax credit for film and television made in his state, calling it a “big part” of the “renewal” for Los Angeles. Newsom’s signature doubles the current tax credit of $330 million.

Newsom said the bills, which he signed Monday night, are the most consequential housing reform in recent California history.

Nine months after first proposing to increase the annual amount allocated to California's film and TV tax credit program, Gov. Gavin Newsom has signed it into law.