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

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.

Governor Newsom signed the expansion of a $750 million film and TV tax credit Wednesday to anchor productions in California.