This bill raises the amount of film and movie production tax credits that may be awarded by the New Jersey Economic Development Authority from $100,000,000 to $250,000,000. It also increases the amount of money that may be made available to studio partners from $350,000,000 to $400,000,000. CPAC believes that taxpayers should not be forced to fund movie productions and opposed this bill. The Assembly passed this bill on June 30, 2023 by a vote of 63-13 and the bill later became law.