New York Governor Kathy Hochul has suggested boosting the film tax credit to keep pace with neighboring states like New Jersey. The proposed increase aims to enhance the state's competitiveness and attract more filmmakers. The current tax credit stands at $420 million, and Gov. Hochul's proposal seeks to raise it to around $530 million. This move is part of the state's strategy to bolster its position in the film industry and retain its appeal as a prime filming destination.