CA SB485

Extends motion picture tax credit allocation period from July 1, 2025 to July 1, 2030 for both personal income tax (Section 17053.98) and corporation tax (Section 23698).

Requires applicants seeking credit allocations on or after July 1, 2023 to submit diversity workplans with goals reflective of California's population by race, ethnicity, and gender, subject to California Film Commission approval.

Allows California Film Commission to increase credit percentages by up to 4 percentage points (2 points for workforce diversity, 2 points for creative roles diversity) if applicant meets or makes good faith effort toward diversity goals.

Prohibits tax credit certification until Commission receives applicant's final diversity report documenting achievement of diversity goals.

Modifies studio construction project credit to allow qualification across all taxable years during production rather than limiting to single taxable years.