California's film tax credit program will funnel $1.08 billion in production spending into the state after approving 35 new movies, Gov. Gavin Newsom announced Wednesday, Oct. 7.

The latest round under the expanded Film and Television Tax Credit Program includes Ice Cube's "Last Friday," the fourth installment in his South Los Angeles comedy franchise. Lionsgate's "Michael 2," a sequel to the highest-grossing biopic ever, also made the list. The projects are expected to support 5,453 cast and crew jobs and 24,842 background performer days, according to the governor's office.

An untitled Pixar animated film scored the largest individual credit at $40.1 million, followed by Michael 2 at $30.8 million and a Paramount crime thriller at $29.3 million, Deadline reported.

Ice Cube will write, star in and produce Last Friday through Warner Bros. and New Line Cinema, a deal he signed in spring 2025. "Boondocks" creator Aaron McGruder is co-writing the script with DJ Pooh also attached.

Ice Cube said he was thrilled to produce the film in Southern California, where the cast and crew live.

"This story has been part of the fabric of South Los Angeles since our first film 31 years ago so producing the film here with more than 180 local cast and crew underscores the value of the California production incentive program," he said.

The sequel follows "Friday" (1995), "Next Friday" (2000) and "Friday After Next" (2002). No production start date has been announced.

Michael 2 is expected to be directed by Antoine Fuqua, with Jaafar Jackson returning in the lead role. The original "Michael" grossed $1.028 billion worldwide. Lionsgate Motion Picture Group Chairman Adam Fogelson said in August that the sequel was targeting a production start toward the end of 2026 or early 2027.

Twenty-eight of the 35 approved projects are independent productions, including eight with budgets above $10 million, The Wrap reported. Other approved titles include "Leaves of Glass," "American Wolf," an untitled Mike Mills film and franchise revivals of "Clueless" and "The Rockford Files."

California Film Commission Director Colleen Bell said the round reflects a mix of independent filmmaking and iconic California stories.

Skydance CEO David Ellison, whose company landed two untitled films in the round, told reporters Wednesday that he has spoken with Gov. Newsom and California Attorney General Rob Bonta about making the state more competitive. He pointed to rival incentive rates: "Jersey's at 43%. Georgia, I believe, is 38%."

The state also approved a separate $10 million incentive for post-production work done in California, including on projects that shoot elsewhere. A bipartisan federal film tax credit bill is expected to be introduced in Congress in early November, the Los Angeles Times reported, a topic we also covered Wednesday. If passed, that credit would take effect in 2027 and could stack with state incentives.