Of 24 movies selected to participate in California’s Film & TV tax credit program, only three are studio projects, the state’s film office said Monday. They’re helmed by Lionsgate ($21.1 million), MGM ($13.8 million) and Disney ($11.3 million).

Netflix and Warner Bros. Pictures, which have led the way in the previous four allotment of credits over the last two years, have no to titles on the list of films getting tax breaks for filming in California. …

In recent years, studio movies have fled California in favor of places with more lucrative tax incentives. Georgia, which doesn’t have a cap on its film and TV tax credit program, has been the most popular destination. Unlike other high-production states, only the qualified spending portion of a movie’s budget, which doesn’t include compensation for talent, is eligible for credits under the state’s tax credit program.

[Wanna bet that it’s not just the tax incentives? — Ed]